Patterson Companies (NASDAQ:PDCO) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note issued on Thursday. The firm set a “hold” rating on the stock.

PDCO has been the subject of several other reports. Stifel Nicolaus decreased their target price 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 Partners reissued a “market perform” rating and issued a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Robert W. Baird upped their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Mizuho began coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Patterson Companies currently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Performance

Shares of NASDAQ PDCO opened at $31.21 on Thursday. 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 stock has a 50 day moving average price of $31.08 and a 200 day moving average price of $26.51. The stock has a market capitalization of $2.76 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99. Patterson Companies has a 52 week low of $19.45 and a 52 week high of $31.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PDCO. California State Teachers Retirement System lifted its holdings in shares of Patterson Companies by 4.3% during the fourth quarter. California State Teachers Retirement System now owns 77,925 shares of the company’s stock worth $2,405,000 after buying an additional 3,224 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Patterson Companies during the fourth quarter worth about $4,291,000. Polar Asset Management Partners Inc. bought a new position in Patterson Companies during the fourth quarter worth about $6,172,000. Public Employees Retirement System of Ohio raised its stake in Patterson Companies by 1.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 48,909 shares of the company’s stock worth $1,509,000 after purchasing an additional 492 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Patterson Companies in the 4th quarter valued at about $1,799,000. 85.43% of the stock is owned by institutional investors and hedge funds.

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.