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

Patterson Companies, Inc. (NASDAQ:PDCO) has earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $26.57.

Several brokerages have recently issued reports on PDCO. Piper Sandler decreased their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Evercore ISI dropped their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. Stifel Nicolaus dropped their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. UBS Group reduced their target price on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Leerink Partners reissued a “market perform” rating and set a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th.

Patterson Companies Trading Down 0.2 %

Shares of PDCO opened at $30.86 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.70 and a beta of 1.00. The company has a 50-day moving average of $22.79 and a 200 day moving average of $23.15. Patterson Companies has a 1-year low of $19.45 and a 1-year high of $31.79.

Patterson Companies (NASDAQ:PDCO) last posted 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). The business 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%. Patterson Companies’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. On average, research analysts expect that Patterson Companies will post 2.26 EPS for the current year.

Insider Activity at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the company’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 transaction of $45,282.96. Following the transaction, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Patterson Companies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LRI Investments LLC grew its position in Patterson Companies by 201.2% during the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after acquiring an additional 843 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Patterson Companies during the 2nd quarter valued at $41,000. Family Firm Inc. bought a new position in Patterson Companies in the second quarter worth about $45,000. Meeder Asset Management Inc. bought a new position in shares of Patterson Companies in the 2nd quarter worth approximately $45,000. Finally, International Assets Investment Management LLC grew its stake in Patterson Companies by 2,084.0% in the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after purchasing an additional 2,084 shares during the period. 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.