Patterson Companies (NASDAQ:PDCO) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued on Wednesday, MarketBeat.com reports. They presently have a $42.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 15.64% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Piper Jaffray Companies started coverage on Patterson Companies in a research report on Thursday, October 19th. They issued a “neutral” rating and a $41.00 price target on the stock. UBS upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research report on Friday, August 25th. Stifel Nicolaus upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a research report on Wednesday, November 15th. Finally, Robert W. Baird restated a “buy” rating and issued a $44.00 price target on shares of Patterson Companies in a research report on Friday, November 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $41.20.

Patterson Companies (NASDAQ:PDCO) traded down $0.98 on Wednesday, hitting $36.32. The stock had a trading volume of 1,341,100 shares, compared to its average volume of 1,302,047. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.10. Patterson Companies has a twelve month low of $32.07 and a twelve month high of $48.29. The firm has a market capitalization of $3,572.44, a PE ratio of 16.80, a P/E/G ratio of 2.13 and a beta of 0.95.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. equities research analysts forecast that Patterson Companies will post 2.06 earnings per share for the current fiscal year.

In other news, Director John D. Buck purchased 2,834 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were acquired at an average price of $34.93 per share, with a total value of $98,991.62. Following the purchase, the director now directly owns 54,627 shares of the company’s stock, valued at $1,908,121.11. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ann B. Gugino sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total value of $27,547.50. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of PDCO. Bank of Montreal Can raised its holdings in Patterson Companies by 7.4% in the 2nd quarter. Bank of Montreal Can now owns 37,044 shares of the company’s stock valued at $1,740,000 after acquiring an additional 2,539 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Patterson Companies by 24.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 85,897 shares of the company’s stock valued at $4,034,000 after acquiring an additional 16,978 shares during the last quarter. Sei Investments Co. raised its holdings in Patterson Companies by 25.5% in the 2nd quarter. Sei Investments Co. now owns 18,680 shares of the company’s stock valued at $877,000 after acquiring an additional 3,800 shares during the last quarter. Trexquant Investment LP acquired a new position in Patterson Companies in the 2nd quarter valued at $742,000. Finally, Palisade Asset Management LLC acquired a new position in Patterson Companies in the 2nd quarter valued at $188,000. 93.36% of the stock is currently owned by hedge funds and other institutional investors.

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About Patterson Companies

Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.

Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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