Patterson Companies (NASDAQ:PDCO) Earns Hold Rating from Analysts at StockNews.com

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

A number of other research firms also recently issued reports on PDCO. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Piper Sandler decreased 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 note on Friday, December 6th. Robert W. Baird lifted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Leerink Partners restated a “market perform” rating and issued a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Finally, Morgan Stanley boosted their price target 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. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Performance

Shares of PDCO opened at $30.94 on Friday. The company has a 50-day simple moving average of $31.10 and a two-hundred day simple moving average of $26.93. 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 capitalization of $2.74 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. 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 hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in shares of Patterson Companies by 31.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock valued at $726,000 after acquiring an additional 7,969 shares during the last quarter. Barclays PLC lifted its position in Patterson Companies by 37.2% during the third quarter. Barclays PLC now owns 165,715 shares of the company’s stock valued at $3,619,000 after purchasing an additional 44,906 shares during the period. EMC Capital Management boosted its holdings in Patterson Companies by 600.7% in the fourth quarter. EMC Capital Management now owns 16,053 shares of the company’s stock worth $495,000 after purchasing an additional 13,762 shares during the last quarter. Tritonpoint Wealth LLC bought a new stake in Patterson Companies in the 4th quarter worth approximately $264,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Patterson Companies during the 3rd quarter valued at $219,000. 85.43% of the stock is owned by 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.