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

Research analysts at StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the stock.

A number of other analysts have also issued reports on the company. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Piper Sandler lowered their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. UBS Group cut their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Stifel Nicolaus lowered their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Finally, Robert W. Baird raised their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Patterson Companies 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 $30.86 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average is $22.79 and its two-hundred day moving average is $23.15. Patterson Companies has a 52 week low of $19.45 and a 52 week high of $31.79. The company has a market capitalization of $2.73 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.47 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 company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts expect that Patterson Companies will post 2.26 earnings per share for the current year.

Insider Buying and Selling at Patterson Companies

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 stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the sale, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Patterson Companies

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in Patterson Companies by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock valued at $94,436,000 after purchasing an additional 23,344 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Patterson Companies by 13.4% during the 3rd 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 last quarter. River Road Asset Management LLC lifted its holdings in shares of Patterson Companies by 3.6% in the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock valued at $43,423,000 after buying an additional 68,947 shares during the period. Equity Investment Corp boosted its stake in shares of Patterson Companies by 10.6% in the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after buying an additional 166,899 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in 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 acquiring an additional 81,524 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

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.