Patterson Companies, Inc. (NASDAQ:PDCO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been given an average rating of “Hold” by the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $26.57.

A number of equities analysts have recently issued reports on PDCO shares. Morgan Stanley raised their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Robert W. Baird raised their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Leerink Partnrs downgraded shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. StockNews.com began coverage on Patterson Companies in a research report on Friday. They issued a “hold” rating on the stock. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th.

Institutional Trading of Patterson Companies

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Patterson Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company’s stock worth $290,390,000 after acquiring an additional 47,897 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Patterson Companies by 24.1% during the 4th quarter. American Century Companies Inc. now owns 2,711,030 shares of the company’s stock worth $83,662,000 after purchasing an additional 527,054 shares during the period. Equity Investment Corp increased its holdings in shares of Patterson Companies by 16.6% in the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock valued at $62,614,000 after purchasing an additional 289,295 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Patterson Companies by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock valued at $55,546,000 after purchasing an additional 245,376 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Patterson Companies by 18.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company’s stock worth $44,924,000 after buying an additional 222,005 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Stock Down 0.9 %

PDCO opened at $30.94 on Tuesday. The stock has a market capitalization of $2.74 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. 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 one year low of $19.45 and a one year high of $31.79. The business’s 50-day simple moving average is $31.10 and its 200-day simple moving average is $26.90.

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.