Patterson Companies, Inc. (NASDAQ:PDCO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $26.57.

Several equities research analysts recently commented on PDCO shares. Mizuho initiated coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price objective on the stock. Robert W. Baird raised their price target 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. Leerink Partnrs cut shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Morgan Stanley raised their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th.

Patterson Companies Stock Performance

PDCO stock opened at $31.24 on Tuesday. The stock’s 50 day simple moving average is $31.08 and its 200 day simple moving average is $26.67. 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 has a 12-month low of $19.45 and a 12-month high of $31.79. The stock has a market capitalization of $2.76 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99.

Hedge Funds Weigh In On Patterson Companies

Several institutional investors and hedge funds have recently bought and sold shares of PDCO. Harbour Investments Inc. bought a new position in shares of Patterson Companies in the fourth quarter worth about $26,000. Huntington National Bank increased its holdings in 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. GAMMA Investing LLC raised its stake in Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after acquiring an additional 680 shares during the period. Quadrant Capital Group LLC lifted its holdings in Patterson Companies by 501.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company’s stock valued at $58,000 after purchasing an additional 1,570 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Patterson Companies by 779.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,041 shares of the company’s stock worth $63,000 after purchasing an additional 1,809 shares during the period. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

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.