Patterson Companies (NASDAQ:PDCO) Coverage Initiated at StockNews.com

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

Other analysts have also issued research reports about the stock. Piper Sandler lowered their price target on shares of Patterson Companies from $26.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, December 6th. Mizuho initiated coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $23.00 price objective on the stock. 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 research note on Thursday, December 5th. Leerink Partnrs cut shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Finally, Leerink Partners reaffirmed a "market perform" rating and issued a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Patterson Companies has an average rating of "Hold" and an average target price of $26.57.

Remove Ads

Patterson Companies Stock Performance

Shares of Patterson Companies stock remained flat at $31.14 during midday trading on Tuesday. 948,508 shares of the company were exchanged, compared to its average volume of 1,020,519. 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 firm has a market cap of $2.76 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99. The company's fifty day moving average is $31.00 and its two-hundred day moving average is $25.85. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.79.

Hedge Funds Weigh In On Patterson Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in PDCO. Harbour Investments Inc. bought a new position in shares of Patterson Companies during the fourth quarter worth $26,000. Huntington National Bank raised its holdings in shares of Patterson Companies by 54.0% during the fourth quarter. Huntington National Bank now owns 1,115 shares of the company's stock worth $34,000 after acquiring an additional 391 shares during the period. GAMMA Investing LLC raised its holdings in shares of 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 during the period. Anchor Investment Management LLC raised its holdings 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 worth $51,000 after acquiring an additional 400 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in shares of Patterson Companies by 501.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company's stock worth $58,000 after acquiring an additional 1,570 shares during the period. 85.43% of the stock is owned by institutional investors.

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.