Patterson Companies (NASDAQ:PDCO) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other research firms have also recently weighed in on PDCO. Zacks Investment Research raised Patterson Companies from a “strong sell” rating to a “hold” rating in a report on Thursday, January 4th. Stifel Nicolaus raised Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a report on Wednesday, November 15th. Deutsche Bank initiated coverage on Patterson Companies in a report on Friday, December 8th. They set a “hold” rating and a $37.00 price target on the stock. Morgan Stanley initiated coverage on Patterson Companies in a report on Thursday, September 21st. They set an “equal weight” rating and a $42.00 price target on the stock. Finally, Jefferies Group reissued a “hold” rating and set a $37.00 price target on shares of Patterson Companies in a report on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.23.

Patterson Companies (NASDAQ PDCO) traded up $0.62 during midday trading on Tuesday, hitting $38.13. The stock had a trading volume of 1,840,817 shares, compared to its average volume of 1,525,390. The company has a market cap of $3,556.85, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.11 and a beta of 0.95. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.10. Patterson Companies has a 12-month low of $32.07 and a 12-month high of $48.29.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. Patterson Companies’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. analysts expect that Patterson Companies will post 2.1 EPS for the current fiscal year.

In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $36.38, for a total value of $27,285.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John D. Buck purchased 2,834 shares of the business’s stock in a transaction on Friday, November 24th. The stock was acquired at an average price of $34.93 per share, with a total value of $98,991.62. Following the purchase, the director now directly owns 54,627 shares in the company, valued at approximately $1,908,121.11. The disclosure for this purchase can be found here. Corporate insiders own 0.46% of the company’s stock.

A number of hedge funds have recently modified their holdings of PDCO. Schwab Charles Investment Management Inc. increased its stake in Patterson Companies by 4.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 389,552 shares of the company’s stock worth $18,290,000 after buying an additional 15,775 shares in the last quarter. Commonwealth Bank of Australia increased its stake in Patterson Companies by 15.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after buying an additional 415 shares in the last quarter. Alliancebernstein L.P. increased its stake in Patterson Companies by 0.4% in the 2nd quarter. Alliancebernstein L.P. now owns 141,867 shares of the company’s stock worth $6,661,000 after buying an additional 513 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Patterson Companies by 4.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after buying an additional 150 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Patterson Companies by 11.6% in the 2nd quarter. Teachers Advisors LLC now owns 123,091 shares of the company’s stock worth $5,779,000 after buying an additional 12,770 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

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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.

Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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