StockNews.com Initiates Coverage on Patterson Companies (NASDAQ:PDCO)

Equities research analysts at StockNews.com assumed coverage on shares of Patterson Companies (NASDAQ:PDCO) in a note issued to investors on Friday. The firm set a “hold” rating on the stock.

Several other research analysts have also weighed in on PDCO. Morgan Stanley upped their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Stifel Nicolaus reduced their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Piper Sandler dropped their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Finally, Leerink Partners reissued a “market perform” rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.57.

Patterson Companies Trading Down 0.9 %

Shares of NASDAQ PDCO opened at $30.94 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies has a one year low of $19.45 and a one year high of $31.79. The business has a 50-day moving average price of $31.10 and a two-hundred day moving average price of $26.90. The firm has a market capitalization of $2.74 billion, a PE ratio of 18.09, a PEG ratio of 2.71 and a beta of 0.73.

Hedge Funds Weigh In On Patterson Companies

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Patterson Companies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company’s stock worth $290,390,000 after buying an additional 47,897 shares during the last quarter. American Century Companies Inc. grew its position in Patterson Companies by 24.1% in the 4th quarter. American Century Companies Inc. now owns 2,711,030 shares of the company’s stock worth $83,662,000 after purchasing an additional 527,054 shares during the last quarter. Equity Investment Corp increased its holdings in shares of Patterson Companies by 16.6% during the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after purchasing an additional 289,295 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Patterson Companies by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock valued at $55,546,000 after buying an additional 245,376 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Patterson Companies by 18.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company’s stock valued at $44,924,000 after buying an additional 222,005 shares during the period. 85.43% of the stock is currently owned by institutional investors.

About Patterson Companies

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.