Patterson Companies (NASDAQ:PDCO) Now Covered by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note issued on Tuesday. The brokerage set a “hold” rating on the stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler reduced their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Mizuho initiated coverage on Patterson Companies in a research note on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price on the stock. Morgan Stanley boosted their target price on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Evercore ISI reduced their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Finally, Robert W. Baird boosted their target price on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $30.84 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The stock has a 50 day moving average price of $25.90 and a two-hundred day moving average price of $23.94. The company has a market capitalization of $2.72 billion, a P/E ratio of 18.04, a PEG ratio of 2.70 and a beta of 0.89.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts expect that Patterson Companies will post 2.26 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the sale, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Patterson Companies

A number of institutional investors have recently modified their holdings of PDCO. Quest Partners LLC grew its stake in shares of Patterson Companies by 15,728.6% in the second quarter. Quest Partners LLC now owns 5,540 shares of the company’s stock worth $134,000 after acquiring an additional 5,505 shares during the last quarter. Choreo LLC purchased a new stake in shares of Patterson Companies in the second quarter worth $261,000. American Century Companies Inc. grew its stake in shares of Patterson Companies by 83.6% in the second quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock worth $21,775,000 after acquiring an additional 411,012 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Patterson Companies by 52.8% in the second quarter. Envestnet Asset Management Inc. now owns 120,186 shares of the company’s stock worth $2,899,000 after acquiring an additional 41,507 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Patterson Companies by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock worth $94,436,000 after acquiring an additional 23,344 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

About Patterson Companies

Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.