Patterson Companies (NASDAQ:PDCO) Coverage Initiated by Analysts at StockNews.com

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

Several other equities research analysts have also recently commented on PDCO. Morgan Stanley boosted their price target 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. Leerink Partnrs cut shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. 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 report on Friday, December 6th. Leerink Partners reaffirmed a “market perform” rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Finally, Mizuho began coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Patterson Companies has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Up 0.0 %

Shares of NASDAQ:PDCO opened at $31.14 on Monday. The company’s 50-day moving average price is $30.97 and its two-hundred day moving average price is $25.59. 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 one year low of $19.45 and a one year high of $31.79. The stock has a market capitalization 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 (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business 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 firm earned $0.50 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts forecast that Patterson Companies will post 2.25 EPS for the current fiscal year.

Insider Activity at Patterson Companies

In related 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 transaction, the chief executive officer now owns 222,736 shares in the company, valued at approximately $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 accessible through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbour Investments Inc. acquired a new position in Patterson Companies in the 4th quarter valued at about $26,000. Huntington National Bank grew its position in shares of Patterson Companies by 54.0% during the 4th quarter. Huntington National Bank now owns 1,115 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC grew its position 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 in the last quarter. Quadrant Capital Group LLC grew its position in shares of Patterson Companies by 501.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company’s stock worth $58,000 after purchasing an additional 1,570 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of Patterson Companies by 779.7% during the 4th quarter. Sterling Capital Management LLC now owns 2,041 shares of the company’s stock worth $63,000 after purchasing an additional 1,809 shares in the last quarter. Institutional investors and hedge funds 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.