Patterson Companies (NASDAQ:PDCO) Earns Hold Rating from Analysts at StockNews.com

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

Other research analysts also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Evercore ISI dropped their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. Stifel Nicolaus decreased their price target 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. Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Piper Sandler decreased their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Stock Down 0.0 %

Shares of NASDAQ PDCO opened at $30.88 on Tuesday. The company has a market capitalization of $2.73 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89. Patterson Companies has a 52-week low of $19.45 and a 52-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. The company’s 50 day moving average price is $26.46 and its 200-day moving average price is $24.09.

Patterson Companies (NASDAQ:PDCO) last released its earnings results 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 net margin of 2.37% and a return on equity of 19.77%. The company 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 firm earned $0.50 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. Equities analysts forecast that Patterson Companies will post 2.25 earnings per share for the current year.

Insider Transactions at Patterson Companies

In other 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 value 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 represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Patterson Companies

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Patterson Companies by 103.0% during the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after buying an additional 680 shares during the period. Canada Pension Plan Investment Board bought a new position in Patterson Companies during the second quarter valued at about $41,000. International Assets Investment Management LLC grew its position in Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after buying an additional 2,084 shares during the period. Anchor Investment Management LLC grew its position in Patterson Companies by 20.5% during the third 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 grew its position in Patterson Companies by 32.7% during 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 period. 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.