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

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

PDCO has been the subject of a number of other research reports. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Mizuho started coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price for the company. 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. Robert W. Baird upped their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Stifel Nicolaus dropped their price objective on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Price Performance

Shares of PDCO stock opened at $31.18 on Wednesday. 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 cap of $2.76 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 2.71 and a beta of 0.99. The stock’s fifty day simple moving average is $31.02 and its 200 day simple moving average is $26.04. Patterson Companies has a one year low of $19.45 and a one year high of $31.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its position in Patterson Companies by 4.3% during the fourth quarter. California State Teachers Retirement System now owns 77,925 shares of the company’s stock valued at $2,405,000 after purchasing an additional 3,224 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Patterson Companies during the 4th quarter worth $4,291,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Patterson Companies in the 4th quarter valued at $6,172,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Patterson Companies by 1.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 48,909 shares of the company’s stock valued at $1,509,000 after purchasing an additional 492 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Patterson Companies in the 4th quarter valued at $1,799,000. 85.43% of the stock is owned by institutional investors and hedge funds.

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.