Patterson Companies (NASDAQ:PDCO) Earns Hold Rating from Analysts at StockNews.com

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

Other equities analysts have also recently issued reports about the company. Piper Sandler dropped their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Mizuho assumed coverage on shares of Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price objective for the company. Morgan Stanley raised their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Stifel Nicolaus cut their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Finally, Robert W. Baird lifted their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Stock Performance

Shares of NASDAQ:PDCO opened at $31.21 on Thursday. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.79. The company’s 50 day moving average price is $31.08 and its two-hundred day moving average price is $26.56. The firm has a market cap of $2.76 billion, a PE ratio of 18.25, a PEG ratio of 2.71 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. bought a new position in shares of Patterson Companies during the 4th quarter worth approximately $26,000. Huntington National Bank lifted its holdings in Patterson Companies by 54.0% during the fourth quarter. Huntington National Bank now owns 1,115 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares during the period. GAMMA Investing LLC boosted its position in Patterson Companies by 103.0% in the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after purchasing an additional 680 shares during the last quarter. Anchor Investment Management LLC grew its stake in Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after purchasing an additional 400 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Patterson Companies by 501.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company’s stock valued at $58,000 after purchasing an additional 1,570 shares during the last quarter. 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.