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 Tuesday. The firm issued a hold rating on the stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler lowered 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. Stifel Nicolaus lowered their target price on shares of Patterson Companies from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Thursday, December 5th. Robert W. Baird lifted their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Leerink Partners restated a "market perform" rating and set a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Finally, Morgan Stanley lifted their price objective 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. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $26.57.

Patterson Companies Stock Up 0.2 %

PDCO traded up $0.05 during midday trading on Tuesday, hitting $30.89. 2,432,756 shares of the company's stock traded hands, compared to its average volume of 1,727,232. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The company has a market cap of $2.73 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The stock's fifty day simple moving average is $26.10 and its 200-day simple moving average is $23.99. Patterson Companies has a one year low of $19.45 and a one year high of $31.79.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. As a group, equities analysts anticipate that Patterson Companies will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the sale, the chief executive officer now directly owns 222,736 shares in the company, valued at approximately $5,140,746.88. The trade was 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. Insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Patterson Companies

Institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new position in shares of Patterson Companies in the 2nd quarter worth approximately $41,000. GAMMA Investing LLC raised its stake in Patterson Companies by 103.0% during the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company's stock worth $41,000 after acquiring an additional 680 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company's stock valued at $48,000 after acquiring an additional 2,084 shares during the period. Anchor Investment Management LLC boosted 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 in the last quarter. Finally, KBC Group NV grew its holdings in shares of Patterson Companies by 32.7% in the 3rd quarter. KBC Group NV now owns 2,757 shares of the company's stock worth $60,000 after purchasing an additional 680 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

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.