Patterson Companies (NASDAQ:PDCO) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO - Free Report) in a report published on Monday morning. The brokerage issued a hold rating on the stock.

PDCO has been the subject of several other research reports. 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 research note on Tuesday, December 17th. Leerink Partners restated a "market perform" rating and issued a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Robert W. Baird lifted their price target 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. Stifel Nicolaus cut their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Thursday, December 5th. Finally, Mizuho began coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $26.57.

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Patterson Companies Stock Performance

Patterson Companies stock traded down $0.02 during mid-day trading on Monday, reaching $31.12. The company's stock had a trading volume of 2,116,473 shares, compared to its average volume of 1,007,074. The company has a market capitalization of $2.75 billion, a P/E ratio of 18.20, a PEG ratio of 2.71 and a beta of 0.99. The firm's fifty day moving average price is $30.97 and its two-hundred day moving average price is $25.63. 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 quick ratio of 0.76 and a current ratio of 1.37.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. Patterson Companies's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. Sell-side analysts predict that Patterson Companies will post 2.25 EPS for the current fiscal year.

Insider Activity

In other news, CEO Donald Zurbay sold 1,962 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the transaction, the chief executive officer now directly owns 222,736 shares of the company's stock, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PDCO. Harbour Investments Inc. bought a new stake in shares of Patterson Companies during the 4th quarter valued at about $26,000. Huntington National Bank boosted its position in Patterson Companies by 54.0% during the 4th quarter. Huntington National Bank now owns 1,115 shares of the company's stock valued at $34,000 after acquiring an additional 391 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company's stock worth $41,000 after acquiring an additional 680 shares during the period. International Assets Investment Management LLC raised its position in shares of Patterson Companies by 2,084.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company's stock worth $48,000 after acquiring an additional 2,084 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its stake in shares of Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company's stock valued at $51,000 after purchasing an additional 400 shares during the period. 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.