Patterson Companies, Inc. (NASDAQ:PDCO) Receives Average Rating of “Hold” from Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have earned an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $26.57.

PDCO has been the subject of several recent analyst reports. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Piper Sandler dropped 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 report on Friday, December 6th. Robert W. Baird increased their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. StockNews.com initiated coverage on shares of Patterson Companies in a research note on Sunday. They set a “hold” rating for the company. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th.

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 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 completion of the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Patterson Companies by 31.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock worth $726,000 after buying an additional 7,969 shares during the period. Equity Investment Corp increased its position in shares of Patterson Companies by 10.6% during the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after acquiring an additional 166,899 shares during the last quarter. Seven Eight Capital LP lifted its stake in shares of Patterson Companies by 177.7% in the second quarter. Seven Eight Capital LP now owns 73,504 shares of the company’s stock worth $1,773,000 after acquiring an additional 47,032 shares in the last quarter. Goodman Financial Corp lifted its stake in shares of Patterson Companies by 19.1% in the third quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after acquiring an additional 86,972 shares in the last quarter. Finally, Mork Capital Management LLC boosted its holdings in Patterson Companies by 142.9% in the third quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock valued at $1,856,000 after purchasing an additional 50,000 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Stock Down 0.1 %

Shares of NASDAQ PDCO opened at $30.85 on Friday. The firm has a market cap of $2.72 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. Patterson Companies has a 1 year low of $19.45 and a 1 year high of $31.79. The firm’s 50 day moving average price is $23.78 and its 200 day moving average price is $23.41.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $1.67 billion for the quarter, compared to analyst estimates 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 for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. As a group, sell-side analysts anticipate that Patterson Companies will post 2.26 earnings per share for the current year.

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.