Patterson Companies, Inc. (NASDAQ:PDCO) Receives $26.57 Average PT from Analysts

Patterson Companies, Inc. (NASDAQ:PDCO) has received an average rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Ten 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 updated their coverage on the stock in the last year is $26.57.

A number of research firms have recently weighed in on PDCO. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Leerink Partners reissued a “market perform” rating and issued a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Stifel Nicolaus decreased their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Evercore ISI cut their price target on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. Finally, StockNews.com began coverage on shares of Patterson Companies in a research note on Tuesday, January 14th. They issued a “hold” rating for the company.

Patterson Companies Price Performance

Patterson Companies stock opened at $30.90 on Thursday. The business’s 50-day simple moving average is $26.86 and its 200 day simple moving average is $24.19. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.68 and a beta of 0.89. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business 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%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. As a group, research analysts anticipate that Patterson Companies will post 2.25 earnings per share for the current year.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the sale, the chief executive officer now owns 222,736 shares of the company’s stock, valued at $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PDCO. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 680 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Patterson Companies during the second quarter worth $41,000. International Assets Investment Management LLC raised its position in Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after acquiring an additional 2,084 shares in the last quarter. Anchor Investment Management LLC lifted its stake in Patterson Companies by 20.5% in the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after acquiring an additional 400 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Patterson Companies by 32.7% in the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after acquiring an additional 680 shares during the period. 85.43% of the stock is currently 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.