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

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

A number of other analysts have also recently commented on PDCO. Piper Sandler dropped their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Morgan Stanley upped their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Mizuho started coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price on the stock. 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. Finally, Leerink Partnrs cut shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Down 0.0 %

Patterson Companies stock opened at $31.03 on Friday. Patterson Companies has a twelve month low of $19.45 and a twelve month high of $31.79. The firm has a 50 day moving average price of $30.62 and a 200-day moving average price of $24.99. The company has a market capitalization of $2.74 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.70 and a beta of 0.90. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results 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 analysts’ expectations of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. As a group, equities analysts predict that Patterson Companies will post 2.25 EPS for the current year.

Insider Activity

In related news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction on 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 approximately $5,140,746.88. This trade represents a 0.87 % decrease in their position. The transaction 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.

Hedge Funds Weigh In On Patterson Companies

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew 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 purchasing an additional 7,969 shares during the last quarter. Equity Investment Corp grew its holdings in shares of Patterson Companies by 10.6% during the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after purchasing an additional 166,899 shares during the last quarter. Goodman Financial Corp grew its holdings in shares of Patterson Companies by 19.1% during 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 during the last quarter. Mork Capital Management LLC grew its holdings in Patterson Companies by 142.9% in the 3rd quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock worth $1,856,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Barclays PLC grew its holdings in Patterson Companies by 37.2% in the 3rd quarter. Barclays PLC now owns 165,715 shares of the company’s stock worth $3,619,000 after acquiring an additional 44,906 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

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.