Patterson Companies (NASDAQ:PDCO) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Patterson Companies (NASDAQ:PDCO) in a report issued on Friday. The brokerage set a “hold” rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley raised their price objective on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Stifel Nicolaus lowered their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Piper Sandler reduced their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Robert W. Baird lifted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Up 0.1 %

NASDAQ:PDCO opened at $31.03 on Friday. The firm has a 50-day simple moving average of $29.36 and a 200-day simple moving average of $24.73. Patterson Companies has a one year low of $19.45 and a one year high of $31.79. The firm has a market cap of $2.74 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.70 and a beta of 0.90. 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 (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.50 EPS. Equities analysts anticipate that Patterson Companies will post 2.25 EPS for the current fiscal year.

Insider Buying and Selling at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction that occurred 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 owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Patterson Companies

A number of institutional investors have recently bought and sold shares of PDCO. BNP Paribas Financial Markets increased its stake in shares of Patterson Companies by 31.5% in the third quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock worth $726,000 after acquiring an additional 7,969 shares during the period. Equity Investment Corp grew its position in Patterson Companies by 10.6% during the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after purchasing an additional 166,899 shares during the period. Goodman Financial Corp raised its stake in shares of Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock valued at $11,865,000 after buying an additional 86,972 shares during the last quarter. Mork Capital Management LLC lifted its holdings in shares of Patterson Companies by 142.9% in the 3rd quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock valued at $1,856,000 after buying an additional 50,000 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Patterson Companies by 37.2% in the 3rd quarter. Barclays PLC now owns 165,715 shares of the company’s stock valued at $3,619,000 after buying an additional 44,906 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Company Profile

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.