Patterson Companies (NASDAQ:PDCO) Earns Hold Rating from Analysts at StockNews.com

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

Other equities analysts have also issued research reports about the stock. Robert W. Baird boosted their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Leerink Partners restated a “market perform” rating and issued a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Piper Sandler dropped their target price 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. Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley upped their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Patterson Companies has a consensus rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $31.03 on Friday. 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 has a twelve month low of $19.45 and a twelve month high of $31.79. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 2.70 and a beta of 0.90. The company’s fifty day moving average is $30.62 and its 200 day moving average is $24.99.

Patterson Companies (NASDAQ:PDCO) last released 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 firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. Patterson Companies’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Sell-side analysts forecast that Patterson Companies will post 2.25 EPS for the current year.

Insider Buying and Selling

In related news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction dated 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 in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Patterson Companies

A number of institutional investors and hedge funds have recently made changes to their positions in PDCO. Harbour Investments Inc. acquired a new stake in shares of Patterson Companies in the 4th quarter worth about $26,000. Huntington National Bank grew its position in Patterson Companies by 54.0% in the 4th quarter. Huntington National Bank now owns 1,115 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC grew its position in Patterson Companies by 103.0% in 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. International Assets Investment Management LLC grew its position in Patterson Companies by 2,084.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after purchasing an additional 2,084 shares in the last quarter. Finally, Anchor Investment Management LLC grew 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 in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.