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

StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a report published on Wednesday morning. The brokerage issued a hold rating on the stock.

Several other research analysts have also weighed in on PDCO. 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. Robert W. Baird upped their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Piper Sandler cut 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. Evercore ISI lowered their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Finally, Leerink Partners reiterated a “market perform” rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Stock Performance

Shares of PDCO opened at $30.93 on Wednesday. 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. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $31.79. The firm has a fifty day simple moving average of $27.51 and a 200 day simple moving average of $24.33. 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 (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. Research analysts forecast that Patterson Companies will post 2.25 EPS for the current fiscal year.

Insider Activity

In related news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 222,736 shares in the company, valued at approximately $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Patterson Companies

A number of large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of Patterson Companies by 31.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock valued at $726,000 after buying an additional 7,969 shares in the last quarter. Equity Investment Corp lifted its stake in Patterson Companies by 10.6% during the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after purchasing an additional 166,899 shares during the last quarter. Goodman Financial Corp boosted its holdings in shares of Patterson Companies by 19.1% in the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock valued at $11,865,000 after purchasing an additional 86,972 shares in the last quarter. Mork Capital Management LLC boosted its holdings in shares of Patterson Companies by 142.9% in the 3rd quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock valued at $1,856,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Patterson Companies by 37.2% during the 3rd quarter. Barclays PLC now owns 165,715 shares of the company’s stock worth $3,619,000 after buying an additional 44,906 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.