Patterson Companies (NASDAQ:PDCO) Stock Rating Lowered by StockNews.com
StockNews.com lowered shares of Patterson Companies from a "buy" rating to a "hold" rating in a research report on Monday.
Patterson Companies (NASDAQ:PDCO - Get Rating) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Monday.
Several other brokerages also recently commented on PDCO. The Goldman Sachs Group dropped their target price on shares of Patterson Companies from $34.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, September 6th. Robert W. Baird decreased their price target on shares of Patterson Companies to $33.00 in a research report on Tuesday, September 6th. TheStreet upgraded shares of Patterson Companies from a "c+" rating to a "b" rating in a research report on Thursday, December 1st. Credit Suisse Group raised their price target on shares of Patterson Companies to $39.00 and gave the stock an "outperform" rating in a research report on Monday, November 28th. Finally, Evercore ISI raised their price target on shares of Patterson Companies to $30.00 in a research report on Friday, December 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.83.
Patterson Companies Stock Performance
PDCO traded down $0.16 during trading on Monday, hitting $28.03. The stock had a trading volume of 25,994 shares, compared to its average volume of 741,149. The firm has a market cap of $2.72 billion, a PE ratio of 13.81, a P/E/G ratio of 1.77 and a beta of 1.27. Patterson Companies has a 12 month low of $23.87 and a 12 month high of $35.29. The company has a current ratio of 1.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $28.11 and a 200-day simple moving average of $28.15.
Patterson Companies (NASDAQ:PDCO - Get Rating) last announced its earnings results on Thursday, December 1st. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.68 billion. Patterson Companies had a net margin of 3.13% and a return on equity of 20.93%. The business's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. Analysts expect that Patterson Companies will post 2.28 EPS for the current year.
In other news, CFO Kevin Michael Barry sold 9,443 shares of Patterson Companies stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $29.10, for a total transaction of $274,791.30. Following the sale, the chief financial officer now directly owns 6,442 shares in the company, valued at approximately $187,462.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.
Institutional Trading of Patterson Companies
Several institutional investors have recently made changes to their positions in PDCO. AdvisorNet Financial Inc acquired a new position in Patterson Companies in the second quarter valued at about $26,000. Rockefeller Capital Management L.P. boosted its position in Patterson Companies by 74.5% in the third quarter. Rockefeller Capital Management L.P. now owns 1,120 shares of the company's stock valued at $26,000 after buying an additional 478 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Patterson Companies by 145.5% in the second quarter. Meeder Asset Management Inc. now owns 891 shares of the company's stock valued at $27,000 after buying an additional 528 shares in the last quarter. National Bank of Canada FI boosted its position in Patterson Companies by 60.0% in the third quarter. National Bank of Canada FI now owns 2,000 shares of the company's stock valued at $42,000 after buying an additional 750 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Patterson Companies by 28.7% in the second quarter. Captrust Financial Advisors now owns 1,815 shares of the company's stock valued at $55,000 after buying an additional 405 shares in the last quarter. 81.09% of the stock is currently owned by institutional investors and hedge funds.
Patterson Companies Company Profile
Patterson Companies, Inc engages in 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to EMAIL.
Before you consider Patterson Companies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Patterson Companies wasn't on the list.
While Patterson Companies currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here