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

StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research report released on Wednesday. The brokerage issued a hold rating on the stock.

A number of other research firms have also recently weighed in on PDCO. Leerink Partners reiterated a “market perform” rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Stifel Nicolaus dropped their target price on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. Piper Sandler dropped their target price on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Morgan Stanley upped their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Mizuho initiated coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Down 0.1 %

Shares of PDCO stock opened at $30.92 on Wednesday. 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 company has a 50-day simple moving average of $27.07 and a two-hundred day simple moving average of $24.24. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.69 and a beta of 0.89.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Research analysts anticipate that Patterson Companies will post 2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the transaction, the chief executive officer now owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Patterson Companies

A number of institutional investors have recently made changes to their positions in the stock. KBC Group NV increased its holdings in shares of Patterson Companies by 62.4% in the 4th quarter. KBC Group NV now owns 4,477 shares of the company’s stock worth $138,000 after buying an additional 1,720 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Patterson Companies by 18.0% in the 4th quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock worth $84,000 after buying an additional 417 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Patterson Companies by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 36,159 shares of the company’s stock worth $1,116,000 after buying an additional 915 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Patterson Companies in the 4th quarter worth $1,121,000. Finally, Dakota Wealth Management bought a new position in shares of Patterson Companies during the 4th quarter valued at $1,032,000. Institutional investors 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.