Patterson Companies (NASDAQ:PDCO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Patterson Companies (NASDAQ:PDCO) in a report released on Monday. The firm issued a hold rating on the stock.

A number of other research firms have also recently issued reports on PDCO. Leerink Partners restated a “market perform” rating and set a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Piper Sandler reduced their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report 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 company a “neutral” rating in a research note on Thursday, December 12th. Mizuho initiated coverage on shares of Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price objective on the stock. Finally, Evercore ISI decreased their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, October 8th. Eleven research 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.com, the company presently has a consensus rating of “Hold” and an average target price of $26.57.

Patterson Companies Stock Down 0.1 %

Patterson Companies stock opened at $30.85 on Monday. Patterson Companies has a 52-week low of $19.45 and a 52-week high of $31.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The firm has a 50 day moving average price of $25.31 and a two-hundred day moving average price of $23.80. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 2.70 and a beta of 0.89.

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

Insider Buying and Selling

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Patterson Companies

Hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new stake in Patterson Companies during the second quarter worth $41,000. GAMMA Investing LLC raised its stake in shares of Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after purchasing an additional 680 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Patterson Companies in the 2nd quarter worth about $45,000. International Assets Investment Management LLC grew its position in Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after buying an additional 2,084 shares during the period. Finally, Anchor Investment Management LLC increased its holdings in Patterson Companies by 20.5% during the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

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.