By otakuyassine3@gmail.com 
StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO – Free Report) in a research report released on Sunday. The brokerage issued a hold rating on the stock.
A number of other equities analysts also recently commented on PDCO. Evercore ISI reduced their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. Piper Sandler decreased their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Morgan Stanley upped their price objective on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Leerink Partners restated a “market perform” rating and set a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Finally, UBS Group lowered their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.57.
Read Our Latest Analysis on PDCO
Patterson Companies Trading Up 0.0 %
Shares of PDCO opened at $30.86 on Friday. The stock’s 50-day moving average price is $24.16 and its 200 day moving average price is $23.53. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 2.70 and a beta of 1.00. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.79.
Patterson Companies (NASDAQ:PDCO – Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $1.67 billion for 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%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. As a group, research analysts predict that Patterson Companies will post 2.26 earnings per share for the current year.
Insider Activity
In other news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were 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 $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 through this link. 1.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in shares of Patterson Companies by 31.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock valued at $726,000 after buying an additional 7,969 shares during the period. Equity Investment Corp boosted its holdings in Patterson Companies by 10.6% in the third 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. Seven Eight Capital LP increased its position in Patterson Companies by 177.7% in the second quarter. Seven Eight Capital LP now owns 73,504 shares of the company’s stock worth $1,773,000 after purchasing an additional 47,032 shares during the period. Goodman Financial Corp raised its holdings in Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after purchasing an additional 86,972 shares during the last quarter. Finally, Mork Capital Management LLC lifted its position in Patterson Companies by 142.9% during the 3rd quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock valued at $1,856,000 after purchasing an additional 50,000 shares during the period. Institutional investors 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.
Further Reading
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