Patterson Cos. (NASDAQ:PDCO) had its price objective lowered by investment analysts at Jefferies Group from $50.00 to $40.00 in a research note issued on Tuesday. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price points to a potential upside of 2.91% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Off Wall Street started coverage on shares of Patterson Cos. in a research report on Monday, August 8th. They issued a “sell” rating for the company. Bank of America Corp. assumed coverage on shares of Patterson Cos. in a research note on Wednesday, August 24th. They issued an “underperform” rating and a $44.00 target price on the stock. Zacks Investment Research lowered shares of Patterson Cos. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 16th. Robert W. Baird set a $48.00 target price on shares of Patterson Cos. and gave the company a “hold” rating in a research note on Tuesday, November 22nd. Finally, Northcoast Research reaffirmed a “buy” rating on shares of Patterson Cos. in a research note on Tuesday, November 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $45.33.

Analyst Recommendations for Patterson Cos. (NASDAQ:PDCO)

Patterson Cos. (NASDAQ:PDCO) traded up 0.18% during midday trading on Tuesday, hitting $38.87. 2,411,334 shares of the stock were exchanged. The company has a 50 day moving average price of $44.75 and a 200 day moving average price of $46.63. Patterson Cos. has a one year low of $36.46 and a one year high of $50.40. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 18.05 and a beta of 0.97.

Patterson Cos. (NASDAQ:PDCO) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.04. The company earned $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. Patterson Cos. had a net margin of 3.69% and a return on equity of 17.17%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. Equities analysts anticipate that Patterson Cos. will post $2.57 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDCO. Toth Financial Advisory Corp raised its position in Patterson Cos. by 3.1% in the second quarter. Toth Financial Advisory Corp now owns 102,899 shares of the company’s stock valued at $4,928,000 after buying an additional 3,088 shares during the last quarter. SFE Investment Counsel increased its stake in shares of Patterson Cos. by 3.2% in the second quarter. SFE Investment Counsel now owns 41,255 shares of the company’s stock valued at $1,976,000 after buying an additional 1,265 shares during the period. CWM LLC increased its stake in shares of Patterson Cos. by 43,314.0% in the second quarter. CWM LLC now owns 369,453 shares of the company’s stock valued at $17,693,000 after buying an additional 368,602 shares during the period. Fenimore Asset Management Inc. increased its stake in shares of Patterson Cos. by 3.6% in the third quarter. Fenimore Asset Management Inc. now owns 757,175 shares of the company’s stock valued at $34,785,000 after buying an additional 25,985 shares during the period. Finally, Nuance Investments LLC increased its stake in shares of Patterson Cos. by 77.2% in the second quarter. Nuance Investments LLC now owns 901,806 shares of the company’s stock valued at $43,187,000 after buying an additional 393,019 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

About Patterson Cos.

Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.

5 Day Chart for NASDAQ:PDCO

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