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

Research analysts at StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note issued on Monday. The brokerage set a “hold” rating on the stock.

A number of other equities research analysts also recently commented on the company. Piper Sandler lowered their price objective on 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 lifted their price target on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Evercore ISI cut their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Morgan Stanley raised their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus dropped 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 report on Thursday, December 5th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Patterson Companies presently has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Price Performance

Patterson Companies stock opened at $30.88 on Monday. The stock has a market capitalization of $2.73 billion, a P/E ratio of 18.06, a P/E/G ratio of 2.70 and a beta of 0.89. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The firm’s 50-day moving average is $24.92 and its two-hundred day moving average is $23.71.

Patterson Companies (NASDAQ:PDCO) last announced 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). The firm 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%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. Equities analysts predict that Patterson Companies will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the transaction, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Patterson Companies

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position 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 acquiring an additional 7,969 shares in the last quarter. Equity Investment Corp raised its stake 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 valued at $37,994,000 after purchasing an additional 166,899 shares during the period. Seven Eight Capital LP lifted its position in shares of Patterson Companies by 177.7% during the second quarter. Seven Eight Capital LP now owns 73,504 shares of the company’s stock worth $1,773,000 after purchasing an additional 47,032 shares in the last quarter. Goodman Financial Corp boosted 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 valued at $11,865,000 after purchasing an additional 86,972 shares during the period. Finally, Mork Capital Management LLC grew its holdings in Patterson Companies by 142.9% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.