StockNews.com Begins Coverage on Patterson Companies (NASDAQ:PDCO)

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

Other analysts have also recently issued research reports about the stock. Mizuho assumed coverage on shares of Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target on the stock. Leerink Partners reissued a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Morgan Stanley increased their price target on shares of 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 increased 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. Finally, Leerink Partnrs cut shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report 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, the company currently has a consensus rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Trading Down 0.1 %

NASDAQ PDCO opened at $31.16 on Wednesday. The firm’s 50-day moving average is $31.04 and its two-hundred day moving average is $26.17. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $31.79. 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 stock has a market capitalization of $2.76 billion, a P/E ratio of 18.22, a PEG ratio of 2.71 and a beta of 0.99.

Hedge Funds Weigh In On Patterson Companies

Hedge funds have recently added to or reduced their stakes in the stock. Atria Investments Inc grew its position in shares of Patterson Companies by 10.6% during the third quarter. Atria Investments Inc now owns 10,115 shares of the company’s stock worth $221,000 after acquiring an additional 973 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Patterson Companies by 3.9% during the third quarter. Victory Capital Management Inc. now owns 383,949 shares of the company’s stock worth $8,385,000 after acquiring an additional 14,356 shares during the last quarter. KBC Group NV grew its position in shares of Patterson Companies by 32.7% during the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after acquiring an additional 680 shares during the last quarter. Aviance Capital Partners LLC grew its position in shares of Patterson Companies by 30.8% during the third quarter. Aviance Capital Partners LLC now owns 40,723 shares of the company’s stock worth $889,000 after acquiring an additional 9,578 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Patterson Companies by 38.3% during the third quarter. Advisors Asset Management Inc. now owns 173,470 shares of the company’s stock worth $3,789,000 after acquiring an additional 48,068 shares during the last quarter. 85.43% of the stock is currently 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.