Patterson Companies, Inc. (NASDAQ:PDCO) Receives Consensus Rating of “Hold” from Analysts

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.57.

PDCO has been the topic of several research analyst reports. Piper Sandler reduced their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Stifel Nicolaus reduced their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Robert W. Baird boosted their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. StockNews.com initiated coverage on shares of Patterson Companies in a report on Saturday. They issued a “hold” rating on the stock. Finally, Morgan Stanley boosted their price target 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.

Patterson Companies Trading Down 0.0 %

Shares of PDCO stock opened at $31.03 on Monday. The company’s 50-day moving average price is $30.46 and its 200-day moving average price is $24.96. 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 stock has a market cap of $2.74 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.70 and a beta of 0.90. Patterson Companies has a twelve month low of $19.45 and a twelve month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last announced 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 firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. As a group, equities analysts predict that Patterson Companies will post 2.25 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the sale, the chief executive officer now directly owns 222,736 shares in the company, valued at approximately $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Trading of Patterson Companies

A number of large investors have recently made changes to their positions in the company. Harbour Investments Inc. acquired a new position in Patterson Companies in the fourth quarter valued at approximately $26,000. Huntington National Bank boosted its holdings in Patterson Companies by 54.0% in the fourth quarter. Huntington National Bank now owns 1,115 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Patterson Companies by 103.0% in the fourth 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. Quadrant Capital Group LLC boosted its holdings in Patterson Companies by 501.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company’s stock valued at $58,000 after purchasing an additional 1,570 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Patterson Companies by 779.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,041 shares of the company’s stock valued at $63,000 after purchasing an additional 1,809 shares in 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.