Mizuho Upgrades Patterson Companies (NASDAQ:PDCO) to Hold

Patterson Companies (NASDAQ:PDCO) was upgraded by equities researchers at Mizuho to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on PDCO. JPMorgan Chase & Co. lowered their price objective on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. UBS Group decreased their target price on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Bank of America decreased their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Evercore ISI decreased their price objective on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Finally, Robert W. Baird cut their target price on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.11.

Patterson Companies Trading Up 1.2 %

Patterson Companies stock opened at $21.88 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $30.68. The stock’s 50 day simple moving average is $20.98 and its two-hundred day simple moving average is $22.82. The firm has a market cap of $1.93 billion, a PE ratio of 11.96, a P/E/G ratio of 1.57 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts anticipate that Patterson Companies will post 2.32 earnings per share for the current year.

Hedge Funds Weigh In On Patterson Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. LRI Investments LLC boosted its stake in shares of Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after buying an additional 843 shares during the period. Mather Group LLC. boosted its stake in shares of Patterson Companies by 1,376.1% in the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after buying an additional 1,500 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Patterson Companies in the 2nd quarter valued at about $41,000. Family Firm Inc. purchased a new stake in Patterson Companies during the second quarter worth approximately $45,000. Finally, Meeder Asset Management Inc. purchased a new stake in Patterson Companies during the second quarter worth approximately $45,000. 85.43% of the stock is currently owned by hedge funds and other 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.