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

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

A number of other research analysts have also recently issued reports on PDCO. Morgan Stanley raised their price objective on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Piper Sandler reduced their price target on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Stifel Nicolaus lowered their price objective on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Robert W. Baird increased their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, 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 research note on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Patterson Companies has an average rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $31.24 on Thursday. The stock has a market capitalization of $2.76 billion, a P/E ratio of 18.27, a PEG ratio of 2.71 and a beta of 0.99. Patterson Companies has a one year low of $19.45 and a one year high of $31.79. The firm’s 50 day simple moving average is $31.06 and its two-hundred day simple moving average is $26.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PDCO. Values First Advisors Inc. raised its stake in Patterson Companies by 2.9% in the fourth quarter. Values First Advisors Inc. now owns 11,961 shares of the company’s stock worth $369,000 after buying an additional 337 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Patterson Companies by 4.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,242 shares of the company’s stock worth $254,000 after acquiring an additional 363 shares during the period. Huntington National Bank raised its position in shares of Patterson Companies by 54.0% in the 4th quarter. Huntington National Bank now owns 1,115 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares in the last quarter. Anchor Investment Management LLC lifted its stake in shares of Patterson Companies by 20.5% in the 3rd 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 period. Finally, Blue Trust Inc. boosted its position in shares of Patterson Companies by 18.0% during the fourth quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock valued at $84,000 after purchasing an additional 417 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

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.