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

StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research report released on Saturday. The brokerage issued a hold rating on the stock.

A number of other analysts have also recently commented on the stock. Leerink Partnrs cut shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird upped their price target 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. Stifel Nicolaus dropped their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Piper Sandler dropped their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Finally, Leerink Partners reiterated a “market perform” rating and set a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.57.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $31.03 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. Patterson Companies has a twelve month low of $19.45 and a twelve month high of $31.79. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 2.70 and a beta of 0.90. The company’s fifty day moving average is $30.62 and its 200 day moving average is $24.99.

Patterson Companies (NASDAQ:PDCO) last issued 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). The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.50 EPS. Sell-side analysts forecast that Patterson Companies will post 2.25 EPS for the current year.

Insider Buying and Selling

In related news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Patterson Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. purchased a new stake in Patterson Companies in the 4th quarter valued at about $26,000. Huntington National Bank increased its stake in Patterson Companies by 54.0% in the 4th quarter. Huntington National Bank now owns 1,115 shares of the company’s stock valued at $34,000 after buying an additional 391 shares during the last quarter. GAMMA Investing LLC increased its stake in Patterson Companies by 103.0% in the 4th 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 last quarter. Quadrant Capital Group LLC increased its stake in Patterson Companies by 501.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company’s stock valued at $58,000 after buying an additional 1,570 shares during the last quarter. Finally, Sterling Capital Management LLC increased its stake in Patterson Companies by 779.7% in the 4th quarter. Sterling Capital Management LLC now owns 2,041 shares of the company’s stock valued at $63,000 after buying an additional 1,809 shares during the last quarter. Hedge funds and other 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.