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

Patterson Companies, Inc. (NASDAQ:PDCO) has been assigned an average rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.57.

PDCO has been the subject of several recent research reports. Piper Sandler decreased their price target on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Robert W. Baird raised their target price on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Stifel Nicolaus decreased their target price on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, December 5th. Morgan Stanley boosted their target price 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. Finally, Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $31.12 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 stock has a fifty day moving average price of $30.97 and a 200 day moving average price of $25.63. Patterson Companies has a 1-year low of $19.45 and a 1-year high of $31.79. The company has a market cap of $2.75 billion, a PE ratio of 18.20, a P/E/G ratio of 2.71 and a beta of 0.99.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share 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 company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business earned $0.50 earnings per share. Patterson Companies’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Patterson Companies will post 2.25 EPS for the current year.

Insider Activity at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the firm’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 transaction, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Patterson Companies

Several hedge funds have recently bought and sold shares of PDCO. Raymond James Financial Inc. purchased a new position in Patterson Companies during the fourth quarter worth $18,316,000. American Century Companies Inc. increased its position in Patterson Companies by 24.1% during the fourth quarter. American Century Companies Inc. now owns 2,711,030 shares of the company’s stock worth $83,662,000 after buying an additional 527,054 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Patterson Companies during the third quarter worth $11,183,000. TIG Advisors LLC purchased a new position in Patterson Companies during the fourth quarter worth $14,633,000. Finally, Hsbc Holdings PLC increased its position in Patterson Companies by 2,837.3% during the fourth quarter. Hsbc Holdings PLC now owns 423,977 shares of the company’s stock worth $13,084,000 after buying an additional 409,543 shares in 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.