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

Patterson Companies, Inc. (NASDAQ:PDCO) has earned an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $28.40.

A number of equities research analysts recently issued reports on the stock. Bank of America dropped their price target on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Evercore ISI dropped their target price on shares of Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a research report on Thursday, August 29th. UBS Group cut their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Morgan Stanley dropped their price objective on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th.

Insider Activity at Patterson Companies

In other Patterson Companies news, insider Les B. Korsh sold 2,842 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $67,383.82. Following the completion of the transaction, the insider now directly owns 103,765 shares of the company’s stock, valued at approximately $2,460,268.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Kevin Michael Barry sold 1,216 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $23.72, for a total value of $28,843.52. Following the completion of the sale, the chief financial officer now directly owns 41,605 shares of the company’s stock, valued at $986,870.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total value of $67,383.82. Following the sale, the insider now owns 103,765 shares in the company, valued at approximately $2,460,268.15. The disclosure for this sale can be found here. Insiders have sold 17,149 shares of company stock valued at $415,851 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Patterson Companies

Institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in Patterson Companies in the second quarter valued at approximately $429,000. Aristides Capital LLC bought a new stake in shares of Patterson Companies in the 2nd quarter worth approximately $246,000. Point72 Asset Management L.P. boosted its position in Patterson Companies by 1,574.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 340,000 shares of the company’s stock valued at $8,201,000 after purchasing an additional 319,700 shares during the period. Algert Global LLC acquired a new position in Patterson Companies during the 2nd quarter valued at approximately $1,939,000. Finally, Scientech Research LLC grew its stake in Patterson Companies by 30.2% during the 2nd quarter. Scientech Research LLC now owns 11,697 shares of the company’s stock worth $282,000 after buying an additional 2,714 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Up 1.6 %

PDCO opened at $21.09 on Friday. The business’s fifty day simple moving average is $24.04 and its 200 day simple moving average is $25.04. Patterson Companies has a 52 week low of $19.96 and a 52 week high of $32.58. The firm has a market cap of $1.85 billion, a P/E ratio of 10.55, a PEG ratio of 1.50 and a beta of 1.02. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.08). The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. As a group, equities research analysts anticipate that Patterson Companies will post 2.33 EPS for the current fiscal year.

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.