Patterson Companies, Inc. (NASDAQ:PDCO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have earned an average rating of “Hold” from the eleven brokerages that are covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $26.57.

Several brokerages recently commented on PDCO. Stifel Nicolaus dropped their price objective on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. Leerink Partners reaffirmed a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Mizuho assumed coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th.

Patterson Companies Stock Performance

PDCO opened at $31.14 on Friday. The firm’s fifty day moving average is $31.00 and its two-hundred day moving average is $25.85. The firm has a market cap of $2.76 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99. Patterson Companies has a twelve month low of $19.45 and a twelve month 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.

Institutional Inflows and Outflows

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

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.