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

StockNews.com began coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note published on Sunday morning. The firm issued a hold rating on the stock.

A number of other research analysts also recently issued reports on the company. Mizuho assumed coverage on Patterson Companies in a research note on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target on the stock. Morgan Stanley raised their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Stifel Nicolaus lowered their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, December 5th. Leerink Partnrs downgraded shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Leerink Partners reissued 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. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Stock Up 0.0 %

Shares of NASDAQ:PDCO opened at $31.07 on Friday. Patterson Companies has a 1 year low of $19.45 and a 1 year high of $31.79. The firm’s 50-day moving average is $30.93 and its two-hundred day moving average is $25.21. The firm has a market capitalization of $2.74 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.71 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 (NASDAQ:PDCO) last issued its quarterly 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 company had revenue of $1.67 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. Analysts predict 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 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 completion of the transaction, the chief executive officer now owns 222,736 shares in the company, valued at approximately $5,140,746.88. This represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Patterson Companies

A number of institutional investors and hedge funds have recently bought and sold shares of PDCO. BNP Paribas Financial Markets boosted its holdings 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 in the last quarter. Equity Investment Corp boosted 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 worth $37,994,000 after acquiring an additional 166,899 shares in the last quarter. Goodman Financial Corp boosted its stake in shares of 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 acquiring an additional 86,972 shares in the last quarter. 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 worth $1,856,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Patterson Companies by 37.2% during the 3rd quarter. Barclays PLC now owns 165,715 shares of the company’s stock worth $3,619,000 after acquiring an additional 44,906 shares in the last quarter. Institutional investors 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.