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

StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research report sent to investors on Wednesday morning. The firm issued a hold rating on the stock.

A number of other equities research analysts have also weighed in on PDCO. Evercore ISI reduced their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Piper Sandler decreased their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Mizuho assumed coverage on Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price on the stock. Leerink Partners reissued a “market perform” rating and issued a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Finally, Morgan Stanley lifted their price objective on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Up 0.1 %

Shares of PDCO opened at $30.93 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. Patterson Companies has a 52 week low of $19.45 and a 52 week high of $31.79. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.69 and a beta of 0.89. The stock has a fifty day moving average of $27.51 and a 200-day moving average of $24.33.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. Patterson Companies’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share. As a group, sell-side analysts anticipate that Patterson Companies will post 2.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the transaction, the chief executive officer now owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

Institutional Trading of Patterson Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in Patterson Companies in the second quarter valued at approximately $41,000. GAMMA Investing LLC grew its position in Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after purchasing an additional 680 shares during the period. International Assets Investment Management LLC increased its stake in Patterson Companies by 2,084.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after purchasing an additional 2,084 shares in the last quarter. Anchor Investment Management LLC raised its holdings in Patterson Companies by 20.5% during the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after buying an additional 400 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after buying an additional 680 shares in the last quarter. 85.43% of the stock is 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.