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

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

Several other analysts have also recently commented on PDCO. Piper Sandler decreased their price target on shares of Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, December 6th. Mizuho began coverage on Patterson Companies in a research note on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price target for the company. Evercore ISI cut their price target on Patterson Companies from $23.00 to $22.00 and set an "in-line" rating for the company in a report on Tuesday, October 8th. Morgan Stanley upped their price objective 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, Leerink Partnrs lowered shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.57.

Patterson Companies Price Performance

NASDAQ:PDCO traded up $0.08 during trading hours on Monday, hitting $30.90. 2,073,437 shares of the stock traded hands, compared to its average volume of 1,872,146. The stock has a 50 day moving average price of $24.73 and a 200 day moving average price of $23.66. 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 company has a market cap of $2.73 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. 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 issued its quarterly 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). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The company's quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts forecast that Patterson Companies will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Donald Zurbay sold 1,962 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 222,736 shares of the company's stock, valued at approximately $5,140,746.88. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Patterson Companies

Hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC boosted its stake in shares of Patterson Companies by 20.5% during the third 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. KBC Group NV boosted its position in Patterson Companies by 32.7% in the 3rd quarter. KBC Group NV now owns 2,757 shares of the company's stock valued at $60,000 after buying an additional 680 shares during the period. GAMMA Investing LLC boosted its position in Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company's stock valued at $41,000 after buying an additional 680 shares during the period. Hsbc Holdings PLC grew its stake in Patterson Companies by 6.2% in the 2nd quarter. Hsbc Holdings PLC now owns 14,184 shares of the company's stock worth $341,000 after acquiring an additional 828 shares in the last quarter. Finally, Bfsg LLC increased its position in shares of Patterson Companies by 8.2% during the third quarter. Bfsg LLC now owns 12,250 shares of the company's stock worth $268,000 after acquiring an additional 925 shares during the period. 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.