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

StockNews.com began coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note published on Saturday. The firm issued a hold rating on the stock.

A number of other research firms have also recently commented on PDCO. Morgan Stanley lifted their price target on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Robert W. Baird lifted their price target on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Stifel Nicolaus reduced their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Finally, Mizuho initiated coverage on Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $31.03 on Friday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.70 and a beta of 0.90. The business has a 50-day moving average of $30.62 and a 200-day moving average of $24.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.79.

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). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. Patterson Companies’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, sell-side analysts predict that Patterson Companies will post 2.25 earnings per share for the current fiscal year.

Insider Activity

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PDCO. Exchange Traded Concepts LLC raised its position in Patterson Companies by 44.0% during the third quarter. Exchange Traded Concepts LLC now owns 35,244 shares of the company’s stock valued at $770,000 after purchasing an additional 10,773 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of Patterson Companies by 53.2% during the third quarter. NBC Securities Inc. now owns 3,612 shares of the company’s stock worth $78,000 after buying an additional 1,254 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Patterson Companies by 19.6% during the third quarter. Raymond James & Associates now owns 244,748 shares of the company’s stock worth $5,345,000 after buying an additional 40,125 shares in the last quarter. New Century Financial Group LLC acquired a new position in shares of Patterson Companies during the third quarter worth $983,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Patterson Companies by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock worth $47,697,000 after buying an additional 258,042 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.