StockNews.com initiated coverage on shares of Patterson Companies (NASDAQ:PDCO - Free Report) in a research note released on Saturday morning. The firm issued a hold rating on the stock.
PDCO has been the subject of a number of other reports. Leerink Partners reissued a "market perform" rating and set a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Mizuho initiated coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Thursday, December 5th. Robert W. Baird boosted their target price 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. Finally, Bank of America dropped their target price on Patterson Companies from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Patterson Companies has an average rating of "Hold" and an average target price of $26.57.
Get Our Latest Stock Analysis on Patterson Companies
Patterson Companies Stock Down 0.2 %
Shares of PDCO stock traded down $0.05 during trading on Friday, reaching $30.86. The company's stock had a trading volume of 3,038,504 shares, compared to its average volume of 1,022,618. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 2.70 and a beta of 1.00. Patterson Companies has a 1-year low of $19.45 and a 1-year high of $31.79. 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 stock's 50-day moving average price is $22.79 and its 200 day moving average price is $23.15.
Patterson Companies (NASDAQ:PDCO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The firm's revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. On average, research analysts anticipate that Patterson Companies will post 2.26 EPS for the current year.
Insider Buying and Selling at Patterson Companies
In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the firm's stock in a transaction on Monday, December 9th. The shares were 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. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is owned by company insiders.
Institutional Investors Weigh In On Patterson Companies
Hedge funds have recently made changes to their positions in the business. LRI Investments LLC lifted its position in Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company's stock worth $30,000 after acquiring an additional 843 shares during the period. Canada Pension Plan Investment Board purchased a new position in Patterson Companies in the 2nd quarter valued at $41,000. Family Firm Inc. acquired a new position in Patterson Companies in the 2nd quarter valued at $45,000. Meeder Asset Management Inc. acquired a new stake in shares of Patterson Companies in the 2nd quarter worth $45,000. Finally, International Assets Investment Management LLC boosted its holdings in 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 valued at $48,000 after purchasing an additional 2,084 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company's stock.
Patterson Companies Company Profile
(
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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.
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