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

Equities research analysts at StockNews.com initiated coverage on shares of Patterson Companies (NASDAQ:PDCO) in a report issued on Tuesday. The brokerage set a “hold” rating on the stock.

A number of other analysts also recently commented on PDCO. Leerink Partnrs downgraded shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Evercore ISI decreased their price target on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Leerink Partners reaffirmed a “market perform” rating and issued a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Piper Sandler reduced their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Finally, Morgan Stanley upped their target price on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $30.89 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $26.27 and its two-hundred day moving average is $24.04. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.68 and a beta of 0.89. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data 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 business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The company’s 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 EPS. Research analysts expect that Patterson Companies will post 2.25 EPS for the current year.

Insider Buying and Selling at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction on 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. The trade was a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Patterson Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in Patterson Companies by 31.5% during the third 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 during the period. Equity Investment Corp increased its stake 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 acquiring an additional 166,899 shares during the last quarter. Seven Eight Capital LP lifted its holdings in shares of Patterson Companies by 177.7% during the 2nd quarter. Seven Eight Capital LP now owns 73,504 shares of the company’s stock worth $1,773,000 after acquiring an additional 47,032 shares during the period. Goodman Financial Corp boosted its position in shares of Patterson Companies by 19.1% in the third quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after acquiring an additional 86,972 shares during the last quarter. Finally, Mork Capital Management LLC boosted its position in shares of Patterson Companies by 142.9% in the third 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. Hedge funds and other 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.