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

StockNews.com assumed coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research report sent to investors on Monday morning. The firm issued a hold rating on the stock.

Other analysts have also issued reports about the company. Leerink Partners reiterated a “market perform” rating and set a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. 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 report on Thursday, December 12th. Piper Sandler reduced their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Morgan Stanley increased their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Mizuho began coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target on the stock. Eleven equities 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 stock currently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Down 0.1 %

PDCO stock opened at $30.85 on Monday. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The stock has a fifty day moving average of $25.31 and a 200-day moving average of $23.80. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 2.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share 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%. Patterson Companies’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, equities research analysts predict that Patterson Companies will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the transaction, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. 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. Canada Pension Plan Investment Board bought a new stake in Patterson Companies in the second quarter worth $41,000. Meeder Asset Management Inc. purchased a new stake in Patterson Companies during the second quarter valued at about $45,000. International Assets Investment Management LLC boosted its position in Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after buying an additional 2,084 shares during the period. Finally, Anchor Investment Management LLC grew its stake in shares of Patterson Companies by 20.5% during the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after buying an additional 400 shares during the last quarter. 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.