Patterson Companies, Inc. (NASDAQ:PDCO) Receives Average Rating of “Hold” from Analysts

Patterson Companies, Inc. (NASDAQ:PDCO) has earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $26.57.

A number of equities research analysts have recently issued reports on PDCO shares. Stifel Nicolaus decreased their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, December 5th. StockNews.com started coverage on Patterson Companies in a report on Tuesday, January 14th. They issued a “hold” rating on the stock. Robert W. Baird increased their price objective on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Piper Sandler reduced their target price on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, December 6th. Finally, Evercore ISI lowered their price target on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th.

Patterson Companies Stock Up 0.1 %

PDCO stock opened at $30.90 on Thursday. Patterson Companies has a 1-year low of $19.45 and a 1-year high of $31.79. The business’s 50 day simple moving average is $26.86 and its 200 day simple moving average is $24.19. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.73 billion, a PE ratio of 18.07, a PEG ratio of 2.68 and a beta of 0.89.

Patterson Companies (NASDAQ:PDCO) last issued 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 company 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 for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. As a group, research analysts anticipate that Patterson Companies will post 2.25 EPS for the current year.

Insider Buying and Selling

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Patterson Companies

A number of institutional investors have recently modified their holdings of PDCO. GAMMA Investing LLC boosted its stake in Patterson Companies by 103.0% in the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after buying an additional 680 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Patterson Companies in the second quarter worth about $41,000. International Assets Investment Management LLC boosted its stake in shares of 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. Anchor Investment Management LLC grew its holdings in shares of Patterson Companies by 20.5% during the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after purchasing an additional 400 shares during the last quarter. Finally, KBC Group NV increased its position in Patterson Companies by 32.7% during the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after purchasing an additional 680 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.