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

Investment analysts at StockNews.com began coverage on shares of Patterson Companies (NASDAQ:PDCO) in a report issued on Saturday. The firm set a “hold” rating on the stock.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus lowered their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Mizuho started coverage on shares of Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price for the company. Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Piper Sandler dropped their price objective 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. Finally, JPMorgan Chase & Co. reduced their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Trading Down 0.2 %

Shares of PDCO opened at $30.86 on Friday. Patterson Companies has a twelve month low of $19.45 and a twelve month high of $31.79. The stock has a market cap of $2.73 billion, a PE ratio of 18.05, a P/E/G ratio of 2.70 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $22.79 and its 200-day moving average price is $23.16.

Patterson Companies (NASDAQ:PDCO) last posted 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 firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. On average, equities analysts forecast that Patterson Companies will post 2.26 EPS for the current fiscal year.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was 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 owns 222,736 shares in the company, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. LRI Investments LLC grew its holdings in Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after acquiring an additional 843 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Patterson Companies in the second quarter worth about $41,000. Family Firm Inc. purchased a new position in Patterson Companies during the 2nd quarter valued at about $45,000. Meeder Asset Management Inc. purchased a new position in Patterson Companies during the 2nd quarter valued at about $45,000. Finally, International Assets Investment Management LLC raised its position in Patterson Companies by 2,084.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after purchasing an additional 2,084 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

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.