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

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

A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Piper Sandler reduced their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Stifel Nicolaus dropped their target price 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. Finally, Morgan Stanley increased their price target on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Patterson Companies currently has a consensus rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Stock Up 0.3 %

PDCO opened at $30.90 on Monday. The stock has a fifty day moving average of $24.73 and a 200-day moving average of $23.66. The company has a market capitalization of $2.73 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.70 and a beta of 0.89. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. 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 announced its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) 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 quarter in the previous year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that Patterson Companies will post 2.26 EPS for the current year.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction on Monday, December 9th. The stock was 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 directly owns 222,736 shares in the company, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Patterson Companies by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock worth $94,436,000 after acquiring an additional 23,344 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Patterson Companies by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock valued at $47,697,000 after buying an additional 258,042 shares during the period. River Road Asset Management LLC grew its position in Patterson Companies by 3.6% during the third quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock worth $43,423,000 after buying an additional 68,947 shares in the last quarter. Equity Investment Corp raised its holdings in shares of Patterson Companies by 10.6% in the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after acquiring an additional 166,899 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Patterson Companies by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock worth $33,952,000 after purchasing an additional 81,524 shares in the last quarter. 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.