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

StockNews.com initiated coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research report released on Friday morning. The firm issued a hold rating on the stock.

A number of other research firms have also weighed in on PDCO. Mizuho initiated coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price on the stock. Piper Sandler cut their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Leerink Partners reiterated a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Stifel Nicolaus dropped their price objective on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. Finally, Morgan Stanley upped 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. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Patterson Companies has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $31.00 on Friday. The business has a 50-day simple moving average of $29.55 and a 200 day simple moving average of $24.77. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.70 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. Patterson Companies has a one year low of $19.45 and a one year high of $31.79.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company earned $0.50 earnings per share. Patterson Companies’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Patterson Companies will post 2.25 earnings per share 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 on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of 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 represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in 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 acquiring an additional 680 shares during the period. International Assets Investment Management LLC increased its stake in shares of Patterson Companies by 2,084.0% in the third 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. Anchor Investment Management LLC raised its position in shares of Patterson Companies by 20.5% in the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after purchasing an additional 400 shares during the period. Blue Trust Inc. lifted its stake in shares of Patterson Companies by 18.0% during the 4th quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock valued at $84,000 after buying an additional 417 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Patterson Companies by 32.7% in the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after buying an additional 680 shares during the period. 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.