By otakuyassine3@gmail.com 
Patterson Companies (NASDAQ:PDCO – Get Free Report) had its price objective hoisted by analysts at Morgan Stanley from $27.00 to $31.35 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 1.39% from the company’s previous close.
Several other equities analysts have also issued reports on PDCO. JPMorgan Chase & Co. decreased their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus lowered 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. Robert W. Baird lifted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Mizuho started coverage on Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.57.
Read Our Latest Stock Analysis on PDCO
Patterson Companies Trading Down 0.3 %
Patterson Companies stock traded down $0.10 during trading hours on Tuesday, reaching $30.92. 408,122 shares of the company’s stock traded hands, compared to its average volume of 1,007,316. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The firm’s 50 day moving average is $21.94 and its 200-day moving average is $22.97.
Patterson Companies (NASDAQ:PDCO – Get Free Report) last issued its earnings results 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 net margin of 2.37% and a return on equity of 19.77%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, analysts predict 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 the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the transaction, the chief executive officer now owns 222,736 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Insiders own 1.90% of the company’s stock.
Institutional Trading of Patterson Companies
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Patterson Companies by 70.4% in the second quarter. SG Americas Securities LLC now owns 15,420 shares of the company’s stock valued at $372,000 after acquiring an additional 6,370 shares during the period. Family Firm Inc. bought a new stake in Patterson Companies in the 2nd quarter valued at about $45,000. LRI Investments LLC grew its position in shares of Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after purchasing an additional 843 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Patterson Companies by 7.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,925,898 shares of the company’s stock worth $46,453,000 after purchasing an additional 133,760 shares during the period. Finally, Miller Howard Investments Inc. NY raised its position in shares of Patterson Companies by 2.3% in the second quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock valued at $471,000 after buying an additional 442 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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