Patterson Companies, Inc. (NASDAQ:PDCO) Receives Consensus Rating of "Hold" from Brokerages

Patterson Companies, Inc. (NASDAQ:PDCO - Get Free Report) has received a consensus rating of "Hold" from the eleven analysts that are presently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $26.57.

PDCO has been the subject of several research reports. Mizuho started coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price objective for the company. StockNews.com initiated coverage on Patterson Companies in a research report on Saturday. They issued a "hold" rating for the company. Evercore ISI reduced their price objective on Patterson Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 8th. JPMorgan Chase & Co. dropped their target price on Patterson Companies from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, August 29th. Finally, Piper Sandler reduced their price target on Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, December 6th.

Insider Buying and Selling at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the sale, the chief executive officer now owns 222,736 shares in the company, valued at approximately $5,140,746.88. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PDCO. Dimensional Fund Advisors LP boosted its stake in shares of Patterson Companies by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company's stock valued at $94,436,000 after purchasing an additional 23,344 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Patterson Companies by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company's stock worth $47,697,000 after buying an additional 258,042 shares in the last quarter. River Road Asset Management LLC boosted its position in Patterson Companies by 3.6% in the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company's stock valued at $43,423,000 after buying an additional 68,947 shares during the period. Equity Investment Corp boosted its position in Patterson Companies by 10.6% in the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company's stock valued at $37,994,000 after buying an additional 166,899 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Patterson Companies by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company's stock worth $33,952,000 after acquiring an additional 81,524 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Price Performance

Shares of NASDAQ PDCO traded down $0.05 during midday trading on Friday, hitting $30.86. The stock had a trading volume of 3,038,504 shares, compared to its average volume of 1,022,618. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $22.79 and a 200-day simple moving average of $23.15. The company has a market capitalization of $2.73 billion, a PE ratio of 18.05, a P/E/G ratio of 2.70 and a beta of 1.00. Patterson Companies has a 1 year low of $19.45 and a 1 year high of $31.79.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that Patterson Companies will post 2.26 EPS for the current fiscal year.

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.