Patterson Companies (NASDAQ:PDCO) Now Covered by StockNews.com

StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a report issued on Thursday morning. The firm issued a hold rating on the stock.

Several other research analysts have also commented on the company. Robert W. Baird boosted their price objective on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Leerink Partners reissued a “market perform” rating and issued a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Piper Sandler dropped their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Finally, Morgan Stanley increased their target price 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. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Patterson Companies has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Price Performance

NASDAQ:PDCO opened at $31.21 on Thursday. Patterson Companies has a 52-week low of $19.45 and a 52-week high of $31.79. The stock has a fifty day moving average of $31.08 and a 200 day moving average of $26.56. 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 has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 2.71 and a beta of 0.99.

Institutional Trading of Patterson Companies

Several institutional investors have recently added to or reduced their stakes in PDCO. California State Teachers Retirement System boosted its holdings in Patterson Companies by 4.3% during the 4th quarter. California State Teachers Retirement System now owns 77,925 shares of the company’s stock valued at $2,405,000 after acquiring an additional 3,224 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Patterson Companies during the fourth quarter valued at approximately $4,291,000. Polar Asset Management Partners Inc. bought a new position in shares of Patterson Companies in the fourth quarter worth approximately $6,172,000. Public Employees Retirement System of Ohio grew its holdings in shares of Patterson Companies by 1.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 48,909 shares of the company’s stock worth $1,509,000 after purchasing an additional 492 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Patterson Companies during the 4th quarter valued at $1,799,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

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.