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

Patterson Companies, Inc. (NASDAQ:PDCO) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.40.

PDCO has been the topic of a number of recent research reports. UBS Group dropped their target price 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. Bank of America lowered their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Evercore ISI reduced their target price on shares of Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a report on Thursday, August 29th. Robert W. Baird decreased their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th.

Patterson Companies Price Performance

Patterson Companies stock opened at $21.74 on Friday. The company has a 50 day moving average of $23.93 and a 200-day moving average of $24.88. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. Patterson Companies has a twelve month low of $19.96 and a twelve month high of $32.58. The stock has a market capitalization of $1.92 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company posted $0.40 earnings per share. Patterson Companies’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Patterson Companies will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Donald Zurbay sold 7,216 shares of Patterson Companies stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total transaction of $180,327.84. Following the completion of the transaction, the chief executive officer now directly owns 230,072 shares in the company, valued at approximately $5,749,499.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Kevin Michael Barry sold 1,216 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.72, for a total value of $28,843.52. Following the transaction, the chief financial officer now owns 41,605 shares in the company, valued at approximately $986,870.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Donald Zurbay sold 7,216 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total transaction of $180,327.84. Following the sale, the chief executive officer now owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,149 shares of company stock worth $415,851. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Patterson Companies

Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Patterson Companies in the second quarter valued at about $2,520,000. Sanctuary Advisors LLC bought a new position in shares of Patterson Companies during the second quarter worth approximately $429,000. Aristides Capital LLC acquired a new stake in shares of Patterson Companies in the second quarter valued at approximately $246,000. Point72 Asset Management L.P. increased its stake in Patterson Companies by 1,574.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 340,000 shares of the company’s stock worth $8,201,000 after acquiring an additional 319,700 shares during the period. Finally, Algert Global LLC acquired a new position in Patterson Companies in the 2nd quarter valued at $1,939,000. 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.