BidaskClub Lowers Patterson Companies (PDCO) to Sell
Patterson Companies (NASDAQ:PDCO) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
Several other research analysts also recently issued reports on the company. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley downgraded Patterson Companies from an “equal weight” rating to an “underweight” rating and set a $42.00 price objective for the company. in a research note on Wednesday, December 6th. Deutsche Bank started coverage on Patterson Companies in a research note on Friday, December 8th. They issued a “hold” rating and a $37.00 price objective for the company. Piper Jaffray Companies started coverage on Patterson Companies in a research note on Thursday, October 19th. They issued a “neutral” rating and a $41.00 price objective for the company. Finally, Stifel Nicolaus raised Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a research note on Wednesday, November 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Patterson Companies currently has a consensus rating of “Hold” and a consensus target price of $40.29.
Patterson Companies (NASDAQ PDCO) opened at $35.22 on Monday. Patterson Companies has a 52 week low of $32.07 and a 52 week high of $48.29. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3,339.70, a P/E ratio of 21.09, a PEG ratio of 1.96 and a beta of 0.89.
In other news, Director John D. Buck bought 2,834 shares of the firm’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 transaction, the director now owns 54,627 shares of the company’s stock, valued at approximately $1,908,121.11. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $36.38, for a total transaction of $27,285.00. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC increased its position in Patterson Companies by 423.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock valued at $118,000 after purchasing an additional 2,041 shares during the period. Amica Retiree Medical Trust increased its position in Patterson Companies by 433.8% during the 3rd quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock valued at $116,000 after purchasing an additional 2,429 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Patterson Companies during the 4th quarter valued at approximately $145,000. Sciencast Management LP acquired a new stake in Patterson Companies during the 2nd quarter valued at approximately $205,000. Finally, GHP Investment Advisors Inc. acquired a new stake in Patterson Companies during the 3rd quarter valued at approximately $212,000. 93.48% of the stock is owned by institutional investors and hedge funds.
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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.
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