Mizuho Upgrades Patterson Companies (NASDAQ:PDCO) to Hold

Patterson Companies (NASDAQ:PDCO) was upgraded by equities research analysts at Mizuho to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on PDCO. Evercore ISI dropped their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. Bank of America dropped their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Robert W. Baird dropped their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. dropped their target price 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. Finally, UBS Group lowered their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and an average target price of $27.11.

Patterson Companies Price Performance

Shares of Patterson Companies stock opened at $21.88 on Tuesday. Patterson Companies has a 1-year low of $19.45 and a 1-year high of $30.68. The firm has a fifty day simple moving average of $20.98 and a 200-day simple moving average of $22.82. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.57 and a beta of 1.00. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Patterson Companies

A number of hedge funds have recently made changes to their positions in the company. Miller Howard Investments Inc. NY increased its position in shares of Patterson Companies by 2.3% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock worth $471,000 after purchasing an additional 442 shares in the last quarter. KBC Group NV grew its holdings in Patterson Companies by 32.7% during the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after acquiring an additional 680 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Patterson Companies by 6.2% during the 2nd quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock worth $341,000 after acquiring an additional 828 shares during the last quarter. LRI Investments LLC grew its holdings in 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 acquiring an additional 843 shares during the last quarter. Finally, Bfsg LLC boosted its stake in shares of Patterson Companies by 8.2% in the 3rd quarter. Bfsg LLC now owns 12,250 shares of the company’s stock valued at $268,000 after purchasing an additional 925 shares during 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.