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

StockNews.com began coverage on shares of Patterson Companies (NASDAQ:PDCO - Free Report) in a research report sent to investors on Sunday. The firm issued a hold rating on the stock.

PDCO has been the topic of a number of other reports. Piper Sandler cut their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, December 6th. Morgan Stanley lifted their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. UBS Group dropped their price target on Patterson Companies from $27.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, September 5th. Robert W. Baird upped their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Finally, Evercore ISI reduced their price target on shares of Patterson Companies from $23.00 to $22.00 and set an "in-line" rating for the company in a research report on Tuesday, October 8th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $26.57.

Patterson Companies Stock Down 0.1 %

PDCO traded down $0.04 during trading on Friday, hitting $30.85. 1,206,171 shares of the company's stock were exchanged, compared to its average volume of 1,022,427. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The stock has a market cap of $2.72 billion, a P/E ratio of 18.04, a PEG ratio of 2.70 and a beta of 1.00. The business's 50 day moving average is $23.78 and its two-hundred day moving average is $23.41. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate 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 net margin of 2.37% and a return on equity of 19.77%. Patterson Companies's revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. As a group, equities analysts expect that Patterson Companies will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new stake in Patterson Companies during the second quarter valued at approximately $41,000. Meeder Asset Management Inc. purchased a new stake in shares of Patterson Companies during the 2nd quarter valued at $45,000. International Assets Investment Management LLC lifted its holdings in shares of Patterson Companies by 2,084.0% during 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 during the last quarter. KBC Group NV grew its position in Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company's stock worth $60,000 after acquiring an additional 680 shares in the last quarter. Finally, Chris Bulman Inc bought a new position in Patterson Companies in the second quarter valued at $71,000. 85.43% of the stock is currently 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.