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

Patterson Companies, Inc. (NASDAQ:PDCO) has been given an average recommendation of “Hold” by the eleven ratings firms that are covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $26.57.

PDCO has been the topic of several research reports. Morgan Stanley increased their target price on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Robert W. Baird lifted their price objective 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 shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Leerink Partners reaffirmed a “market perform” rating and set a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Finally, StockNews.com started coverage on Patterson Companies in a report on Friday. They issued a “hold” rating for the company.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $30.94 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.74 billion, a PE ratio of 18.09, a P/E/G ratio of 2.71 and a beta of 0.73. The stock has a fifty day simple moving average of $31.10 and a 200-day simple moving average of $26.90. Patterson Companies has a twelve month low of $19.45 and a twelve month high of $31.79.

Institutional Trading of Patterson Companies

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of Patterson Companies in the 4th quarter valued at about $18,316,000. American Century Companies Inc. boosted its holdings in Patterson Companies by 24.1% in the fourth quarter. American Century Companies Inc. now owns 2,711,030 shares of the company’s stock valued at $83,662,000 after purchasing an additional 527,054 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Patterson Companies in the third quarter valued at approximately $11,183,000. TIG Advisors LLC purchased a new position in Patterson Companies in the fourth quarter valued at approximately $14,633,000. Finally, Hsbc Holdings PLC raised its holdings in Patterson Companies by 2,837.3% during the fourth quarter. Hsbc Holdings PLC now owns 423,977 shares of the company’s stock worth $13,084,000 after purchasing an additional 409,543 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

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.