Patterson Companies (NASDAQ:PDCO) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the stock.

Several other research analysts have also issued reports on PDCO. Mizuho began coverage on Patterson Companies in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target on the stock. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Morgan Stanley boosted their target price on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Evercore ISI cut their price target on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. Finally, Robert W. Baird boosted their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Patterson Companies currently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Up 0.1 %

Shares of PDCO opened at $30.82 on Monday. The stock’s fifty day simple moving average is $24.73 and its 200-day simple moving average is $23.67. The firm has a market capitalization of $2.72 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.79. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts predict that Patterson Companies will post 2.26 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Patterson Companies

Institutional investors have recently bought and sold shares of the company. Anchor Investment Management LLC raised its holdings in shares of Patterson Companies by 20.5% in the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after purchasing an additional 400 shares during the last quarter. KBC Group NV grew its position in Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after purchasing an additional 680 shares in the last quarter. GAMMA Investing LLC increased its stake in Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after buying an additional 680 shares during the last quarter. Hsbc Holdings PLC lifted its position in Patterson Companies by 6.2% during the 2nd quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock worth $341,000 after buying an additional 828 shares in the last quarter. Finally, Bfsg LLC boosted its stake in shares of Patterson Companies by 8.2% during the 3rd quarter. Bfsg LLC now owns 12,250 shares of the company’s stock worth $268,000 after buying an additional 925 shares during the last quarter. 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.