StockNews.com Initiates Coverage on Patterson Companies (NASDAQ:PDCO)

Investment analysts at StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

PDCO has been the subject of several other research reports. Stifel Nicolaus decreased their target price on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Piper Sandler decreased their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, December 6th. Mizuho assumed coverage on Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price on the stock. Leerink Partners restated a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Finally, Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Stock Down 0.1 %

Shares of NASDAQ PDCO opened at $30.88 on Monday. The business has a 50-day moving average price of $24.92 and a 200 day moving average price of $23.71. The stock 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 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 has a 52-week low of $19.45 and a 52-week high of $31.79.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data 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 firm had revenue of $1.67 billion during the quarter, compared to analyst estimates 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 company posted $0.50 earnings per share. Equities research analysts forecast that Patterson Companies will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, the chief executive officer now owns 222,736 shares in the company, valued at $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 through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PDCO. Canada Pension Plan Investment Board purchased a new stake in shares of Patterson Companies during the 2nd quarter worth approximately $41,000. GAMMA Investing LLC raised its holdings 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 purchasing an additional 680 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Patterson Companies during the second quarter worth $45,000. International Assets Investment Management LLC grew its holdings in Patterson Companies by 2,084.0% in the third 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 during the last quarter. Finally, Anchor Investment Management LLC increased its position in shares of Patterson Companies by 20.5% in the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after buying an additional 400 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Company Profile

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.