Patterson Companies, Inc. (NASDAQ:PDCO) Given Average Recommendation of "Hold" by Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO - Get Free Report) have earned an average recommendation of "Hold" from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $26.57.

Several equities analysts recently weighed in on the stock. Leerink Partnrs cut shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Robert W. Baird boosted their price objective 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 began coverage on shares of Patterson Companies in a report on Friday. They issued a "hold" rating on the stock. Morgan Stanley lifted their price target on Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. Finally, Piper Sandler dropped their price objective on Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, December 6th.

Institutional Trading of Patterson Companies

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Patterson Companies during the 4th quarter worth approximately $18,316,000. American Century Companies Inc. increased its position in shares of Patterson Companies by 24.1% during the fourth quarter. American Century Companies Inc. now owns 2,711,030 shares of the company's stock worth $83,662,000 after buying an additional 527,054 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Patterson Companies during the third quarter worth $11,183,000. TIG Advisors LLC acquired a new position in Patterson Companies in the fourth quarter valued at $14,633,000. Finally, Hsbc Holdings PLC boosted its position in Patterson Companies by 2,837.3% during the fourth quarter. Hsbc Holdings PLC now owns 423,977 shares of the company's stock valued at $13,084,000 after acquiring an additional 409,543 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Stock Down 0.9 %

Shares of Patterson Companies stock traded down $0.27 during trading hours on Tuesday, reaching $30.94. 4,159,156 shares of the company's stock were exchanged, compared to its average volume of 1,081,078. 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 company has a 50 day moving average of $31.10 and a two-hundred day moving average of $26.90. The stock has a market cap of $2.74 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.71 and a beta of 0.73. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.79.

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.