Patterson Companies, Inc. (NASDAQ:PDCO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $26.57.

A number of analysts have recently commented on the company. Evercore ISI dropped their price objective on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. StockNews.com initiated coverage on Patterson Companies in a report on Saturday, December 21st. They issued a “hold” rating on the stock. Mizuho started coverage on Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price for the company. Morgan Stanley raised their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, Leerink Partnrs downgraded shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th.

Patterson Companies Trading Down 0.0 %

Shares of Patterson Companies stock opened at $30.89 on Friday. The firm has a market cap of $2.73 billion, a PE ratio of 18.06, a P/E/G ratio of 2.70 and a beta of 1.00. 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 fifty-two week low of $19.45 and a fifty-two week high of $31.79. The business’s fifty day moving average is $23.39 and its two-hundred day moving average is $23.30.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts anticipate that Patterson Companies will post 2.26 earnings per share for the current year.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the sale, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Patterson Companies

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Patterson Companies by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock valued at $94,436,000 after buying an additional 23,344 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Patterson Companies by 13.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock worth $47,697,000 after buying an additional 258,042 shares during the last quarter. River Road Asset Management LLC raised its holdings in Patterson Companies by 3.6% in the third quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock valued at $43,423,000 after acquiring an additional 68,947 shares in the last quarter. Equity Investment Corp boosted its stake in Patterson Companies by 10.6% during the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after acquiring an additional 166,899 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Patterson Companies by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock worth $33,952,000 after acquiring an additional 81,524 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.