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

Patterson Companies, Inc. (NASDAQ:PDCO - Get Free Report) has earned an average rating of "Hold" from the eleven ratings firms that are currently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $26.57.

A number of equities research analysts have weighed in on the stock. Leerink Partnrs cut shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. StockNews.com assumed coverage on Patterson Companies in a research note on Thursday, March 27th. They issued a "hold" rating on the stock. Morgan Stanley boosted their target price on Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. Mizuho started coverage on Patterson Companies in a report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price target for the company. Finally, Leerink Partners reiterated a "market perform" rating and issued a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th.

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Patterson Companies Trading Down 0.2 %

Shares of NASDAQ:PDCO traded down $0.07 during midday trading on Tuesday, hitting $31.21. 2,048,957 shares of the stock traded hands, compared to its average volume of 1,061,604. The business's 50 day moving average is $31.10 and its two-hundred day moving average is $26.77. 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 market capitalization of $2.76 billion, a PE ratio of 18.25, a P/E/G ratio of 2.71 and a beta of 0.99. Patterson Companies has a one year low of $19.45 and a one year high of $31.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PDCO. Vanguard Group Inc. raised its position in shares of Patterson Companies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company's stock valued at $290,390,000 after purchasing an additional 47,897 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Patterson Companies by 24.1% in 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 last quarter. Equity Investment Corp lifted its stake in shares of Patterson Companies by 16.6% during the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company's stock worth $62,614,000 after buying an additional 289,295 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Patterson Companies by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company's stock valued at $55,546,000 after buying an additional 245,376 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Patterson Companies by 18.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company's stock valued at $44,924,000 after acquiring an additional 222,005 shares during the period. Hedge funds and other institutional investors own 85.43% of the company's stock.

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.