Patterson Companies (NASDAQ:PDCO) Now Covered by StockNews.com

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

Several other research analysts also recently weighed in on the company. Leerink Partners reiterated a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Stifel Nicolaus dropped their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Mizuho started coverage on Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target on the stock. Bank of America dropped their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. 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, Patterson Companies currently has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Price Performance

PDCO opened at $30.86 on Friday. The firm has a market cap of $2.73 billion, a P/E ratio of 18.05, a PEG ratio of 2.70 and a beta of 1.00. The business’s fifty day simple moving average is $22.79 and its 200 day simple moving average is $23.15. Patterson Companies has a 52 week low of $19.45 and a 52 week high of $31.79. 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 released its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $1.67 billion during 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%. Patterson Companies’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. As a group, equities research analysts anticipate that Patterson Companies will post 2.26 EPS for the current fiscal year.

Insider Transactions at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in Patterson Companies by 31.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock worth $726,000 after buying an additional 7,969 shares in the last quarter. Equity Investment Corp boosted its holdings in Patterson Companies by 10.6% in the third 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. Seven Eight Capital LP grew its stake in Patterson Companies by 177.7% during the 2nd quarter. Seven Eight Capital LP now owns 73,504 shares of the company’s stock valued at $1,773,000 after purchasing an additional 47,032 shares in the last quarter. Goodman Financial Corp increased its holdings in Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after purchasing an additional 86,972 shares during the last quarter. Finally, Mork Capital Management LLC boosted its stake in shares of Patterson Companies by 142.9% during the 3rd quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock valued at $1,856,000 after buying an additional 50,000 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.