Patterson Companies (PDCO) Rating Increased to Sell at BidaskClub

Patterson Companies (NASDAQ:PDCO) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Thursday.

Several other equities research analysts have also weighed in on PDCO. Zacks Investment Research upgraded Patterson Companies from a “strong sell” rating to a “hold” rating in a report on Thursday, January 4th. Evercore ISI initiated coverage on Patterson Companies in a report on Thursday, January 4th. They issued an “in-line” rating and a $38.50 target price for the company. JPMorgan Chase lowered Patterson Companies from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $40.00 to $36.00 in a report on Thursday, February 15th. Robert W. Baird lowered Patterson Companies from an “outperform” rating to a “neutral” rating in a report on Thursday, March 1st. Finally, Northcoast Research set a $38.00 target price on Patterson Companies and gave the stock a “buy” rating in a report on Thursday, March 1st. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $36.17.

PDCO opened at $22.89 on Thursday. Patterson Companies has a twelve month low of $21.09 and a twelve month high of $48.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.80 and a quick ratio of 1.00. The company has a market capitalization of $2,163.33, a P/E ratio of 11.04, a P/E/G ratio of 1.82 and a beta of 1.16.



Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, March 1st. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.09). Patterson Companies had a return on equity of 13.85% and a net margin of 4.39%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. equities analysts expect that Patterson Companies will post 1.69 earnings per share for the current year.

Patterson Companies declared that its Board of Directors has approved a share repurchase program on Tuesday, March 13th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Several hedge funds have recently modified their holdings of PDCO. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Patterson Companies by 46.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,878,432 shares of the company’s stock worth $188,551,000 after buying an additional 1,536,422 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of Patterson Companies during the fourth quarter worth approximately $48,813,000. Victory Capital Management Inc. lifted its holdings in shares of Patterson Companies by 90,810.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,235,473 shares of the company’s stock worth $44,638,000 after buying an additional 1,234,114 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Patterson Companies by 70.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,681,338 shares of the company’s stock worth $60,747,000 after buying an additional 696,540 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Patterson Companies by 46.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,544,632 shares of the company’s stock worth $55,808,000 after buying an additional 492,936 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

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Patterson Companies Company Profile

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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