StockNews.com Lowers Patterson Companies (NASDAQ:PDCO) to Hold

Patterson Companies (NASDAQ:PDCOGet Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Leerink Partnrs reiterated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. SVB Leerink assumed coverage on shares of Patterson Companies in a research note on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Piper Sandler cut shares of Patterson Companies from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $34.00 to $28.00 in a research report on Thursday, February 29th. Finally, Evercore ISI dropped their target price on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.67.

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Patterson Companies Price Performance

PDCO stock traded down $0.54 during midday trading on Monday, reaching $25.22. The company had a trading volume of 962,407 shares, compared to its average volume of 1,002,686. The firm has a 50-day moving average price of $26.24 and a 200-day moving average price of $27.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.72. The company has a market capitalization of $2.26 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.27 and a beta of 1.07. Patterson Companies has a 1 year low of $24.77 and a 1 year high of $34.53.

Patterson Companies (NASDAQ:PDCOGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. Patterson Companies’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. On average, research analysts anticipate that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Patterson Companies

Several hedge funds have recently bought and sold shares of PDCO. EMC Capital Management boosted its position in shares of Patterson Companies by 327.9% in the 1st quarter. EMC Capital Management now owns 16,053 shares of the company’s stock worth $444,000 after purchasing an additional 12,301 shares in the last quarter. Tidal Investments LLC increased its stake in Patterson Companies by 51.1% during the 1st quarter. Tidal Investments LLC now owns 68,507 shares of the company’s stock valued at $1,894,000 after purchasing an additional 23,175 shares in the last quarter. Caxton Associates LP raised its holdings in Patterson Companies by 556.7% in the first quarter. Caxton Associates LP now owns 47,626 shares of the company’s stock worth $1,317,000 after buying an additional 40,374 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Patterson Companies during the first quarter valued at approximately $201,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Patterson Companies by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,136 shares of the company’s stock valued at $1,414,000 after acquiring an additional 2,630 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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