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

Stock analysts at StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note issued on Sunday. The brokerage set a “hold” rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird raised their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Morgan Stanley raised their price objective 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. Stifel Nicolaus dropped their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Mizuho initiated coverage on shares of Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target for the company. Finally, Piper Sandler dropped their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Patterson Companies presently has an average rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Price Performance

Patterson Companies stock opened at $31.07 on Friday. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.79. The stock has a market cap of $2.74 billion, a P/E ratio of 18.17, a PEG ratio of 2.71 and a beta of 0.90. The company has a 50-day moving average price of $30.93 and a 200 day moving average price of $25.20. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (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 firm 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 business posted $0.50 earnings per share. Patterson Companies’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Patterson Companies will post 2.25 earnings per share for the current year.

Insider Activity at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Patterson Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company’s stock worth $290,390,000 after acquiring an additional 47,897 shares during the last quarter. American Century Companies Inc. lifted its stake in Patterson Companies by 24.1% in the fourth quarter. American Century Companies Inc. now owns 2,711,030 shares of the company’s stock worth $83,662,000 after acquiring an additional 527,054 shares during the last quarter. Equity Investment Corp lifted its stake in Patterson Companies by 16.6% in the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after acquiring an additional 289,295 shares during the last quarter. River Road Asset Management LLC lifted its stake in Patterson Companies by 3.6% in the third quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock worth $43,423,000 after acquiring an additional 68,947 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Patterson Companies by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock worth $55,546,000 after acquiring an additional 245,376 shares during the last quarter. Hedge funds and other institutional investors 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.