Patterson Companies (NASDAQ:PDCO) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 23rd. Evercore ISI assumed coverage on shares of Patterson Companies in a research note on Thursday, January 4th. They set an “in-line” rating and a $38.50 price target for the company. Deutsche Bank assumed coverage on shares of Patterson Companies in a research note on Friday, December 8th. They set a “hold” rating and a $37.00 price target for the company. Morgan Stanley downgraded shares of Patterson Companies from an “equal weight” rating to an “underweight” rating and set a $42.00 price target for the company. in a research note on Wednesday, December 6th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $40.00 price target on shares of Patterson Companies in a research note on Wednesday, November 22nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Patterson Companies presently has an average rating of “Hold” and a consensus price target of $40.29.
Shares of Patterson Companies (NASDAQ:PDCO) traded down $1.53 during midday trading on Monday, reaching $33.69. 1,141,639 shares of the company’s stock traded hands, compared to its average volume of 1,299,497. The company has a current ratio of 1.94, a quick ratio of 1.10 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3,339.70, a P/E ratio of 20.17, a P/E/G ratio of 1.96 and a beta of 0.89. Patterson Companies has a twelve month low of $32.07 and a twelve month high of $48.29.
In related news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $36.38, for a total value of $27,285.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John D. Buck purchased 2,834 shares of the business’s stock in a transaction on Friday, November 24th. The stock was purchased at an average cost of $34.93 per share, for a total transaction of $98,991.62. Following the completion of the acquisition, the director now directly owns 54,627 shares of the company’s stock, valued at approximately $1,908,121.11. The disclosure for this purchase can be found here. Insiders own 0.46% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC grew its holdings in Patterson Companies by 423.4% in the second quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock worth $118,000 after purchasing an additional 2,041 shares during the last quarter. Amica Retiree Medical Trust grew its holdings in Patterson Companies by 433.8% in the third quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock worth $116,000 after purchasing an additional 2,429 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Patterson Companies in the fourth quarter worth $145,000. Sciencast Management LP purchased a new position in Patterson Companies in the second quarter worth $205,000. Finally, GHP Investment Advisors Inc. purchased a new position in Patterson Companies in the third quarter worth $212,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.
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Patterson Companies Company Profile
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.
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