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

Stock analysts at StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note issued on Thursday. The firm set a “hold” rating on the stock.

PDCO has been the subject of a number of other reports. Morgan Stanley upped 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. Leerink Partners reiterated a “market perform” rating and set a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Evercore ISI cut their price objective on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Piper Sandler cut their price target on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $30.95 on Thursday. The company has a 50 day moving average of $28.58 and a 200-day moving average of $24.58. The company has a market cap of $2.73 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies has a 1-year low of $19.45 and a 1-year high of $31.79.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data 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). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. Patterson Companies’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Patterson Companies will post 2.25 earnings per share for the current fiscal year.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction 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 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Patterson Companies

Several institutional investors and hedge funds have recently made changes to their positions in PDCO. Kestra Investment Management LLC bought a new position in Patterson Companies during the fourth quarter worth $217,000. CIBC Asset Management Inc acquired a new position in shares of Patterson Companies during the fourth quarter valued at about $256,000. Nicholas Hoffman & Company LLC. boosted its position in shares of Patterson Companies by 22.4% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 26,429 shares of the company’s stock worth $816,000 after purchasing an additional 4,836 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Patterson Companies by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 380,958 shares of the company’s stock valued at $11,756,000 after buying an additional 10,756 shares during the period. Finally, Rhumbline Advisers increased its position in Patterson Companies by 2.7% in the 4th quarter. Rhumbline Advisers now owns 262,409 shares of the company’s stock valued at $8,098,000 after buying an additional 6,852 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.