Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have earned an average recommendation of “Hold” from the seventeen analysts that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $25.32.
A number of brokerages recently weighed in on PDCO. Zacks Investment Research upgraded Patterson Companies from a “strong sell” rating to a “hold” rating in a report on Monday, June 25th. Morgan Stanley raised their price objective on Patterson Companies from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Friday, June 22nd. Stifel Nicolaus cut their price objective on Patterson Companies from $28.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, June 18th. BidaskClub raised Patterson Companies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 13th. Finally, JPMorgan Chase & Co. cut their price objective on Patterson Companies from $26.00 to $24.00 and set an “underweight” rating on the stock in a research report on Thursday, June 7th.
Patterson Companies stock traded down $0.06 during midday trading on Friday, reaching $24.68. The stock had a trading volume of 963,514 shares, compared to its average volume of 2,849,959. Patterson Companies has a twelve month low of $20.22 and a twelve month high of $40.36. The stock has a market capitalization of $2.34 billion, a P/E ratio of 14.69, a PEG ratio of 2.37 and a beta of 1.07. The company has a current ratio of 1.79, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, August 30th. The company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.08). Patterson Companies had a net margin of 3.01% and a return on equity of 9.71%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business posted $0.44 EPS. Patterson Companies’s revenue was up 2.5% compared to the same quarter last year. sell-side analysts predict that Patterson Companies will post 1.43 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its position in shares of Patterson Companies by 4.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 520,000 shares of the company’s stock worth $11,788,000 after acquiring an additional 20,000 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Patterson Companies during the second quarter worth about $408,000. Quantbot Technologies LP increased its position in shares of Patterson Companies by 309.6% during the first quarter. Quantbot Technologies LP now owns 104,665 shares of the company’s stock worth $2,326,000 after acquiring an additional 79,114 shares during the last quarter. Tyers Asset Management LLC increased its position in shares of Patterson Companies by 58.0% during the second quarter. Tyers Asset Management LLC now owns 6,624 shares of the company’s stock worth $150,000 after acquiring an additional 2,432 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Patterson Companies during the second quarter worth about $389,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.
Patterson Companies Company Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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