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

StockNews.com began coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note published on Sunday. The brokerage issued a hold rating on the stock.

A number of other brokerages have also recently issued reports on PDCO. Robert W. Baird increased their price objective on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Piper Sandler lowered their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Mizuho started coverage on shares of Patterson Companies in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price objective for the company. Leerink Partners reaffirmed a “market perform” rating and set a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Finally, Stifel Nicolaus cut their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Price Performance

Shares of NASDAQ:PDCO opened at $31.08 on Friday. The firm has a market capitalization of $2.74 billion, a PE ratio of 18.18, a P/E/G ratio of 2.71 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. The company has a 50-day moving average price of $30.93 and a two-hundred day moving average price of $25.27. Patterson Companies has a twelve month low of $19.45 and a twelve month high of $31.79.

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

Insider Activity at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at approximately $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 can be accessed through this link. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Patterson Companies

A number of large investors have recently modified their holdings of the company. Harbour Investments Inc. purchased a new stake in Patterson Companies in the fourth quarter worth approximately $26,000. Huntington National Bank boosted its stake in shares of Patterson Companies by 54.0% in the 4th quarter. Huntington National Bank now owns 1,115 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 in the last quarter. International Assets Investment Management LLC grew its holdings in shares of 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 during the last quarter. Finally, Anchor Investment Management LLC raised its position in Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after purchasing an additional 400 shares during the period. 85.43% of the stock is owned by hedge funds and other 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.