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

Equities research analysts at StockNews.com assumed coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research report issued on Wednesday. The brokerage set a “hold” rating on the stock.

PDCO has been the topic of a number of other reports. Mizuho assumed coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target on the stock. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Piper Sandler dropped their price target on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, December 6th. Evercore ISI reduced their price objective on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, October 8th. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Eleven research 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 currently has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Down 0.1 %

Patterson Companies stock opened at $30.90 on Wednesday. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $31.79. The stock has a market capitalization of $2.73 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The business has a 50 day simple moving average of $27.29 and a 200-day simple moving average of $24.28.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. Patterson Companies’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. On average, analysts anticipate that Patterson Companies will post 2.25 EPS for the current fiscal year.

Insider Activity

In other news, CEO Donald Zurbay sold 1,962 shares of the firm’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 completion of the sale, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PDCO. Canada Pension Plan Investment Board acquired a new stake in Patterson Companies during the second quarter worth $41,000. GAMMA Investing LLC grew its holdings in shares of Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after purchasing an additional 680 shares during the period. International Assets Investment Management LLC increased its position in shares of Patterson Companies by 2,084.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after purchasing an additional 2,084 shares during the last quarter. Anchor Investment Management LLC raised its holdings in Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after buying an additional 400 shares during the period. Finally, KBC Group NV lifted its position in Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after buying an additional 680 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.