Deutsche Bank Begins Coverage on Patterson Companies (PDCO)
Deutsche Bank started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research report released on Friday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $37.00 target price on the stock.
A number of other brokerages have also recently weighed in on PDCO. BidaskClub cut shares of Patterson Companies from a hold rating to a sell rating in a report on Thursday. Morgan Stanley downgraded shares of Patterson Companies from an equal weight rating to an underweight rating and set a $42.00 price target on the stock. in a research report on Wednesday, December 6th. Robert W. Baird reiterated a buy rating and issued a $40.00 price target on shares of Patterson Companies in a research report on Wednesday, November 22nd. Jefferies Group reiterated a hold rating and issued a $37.00 price target on shares of Patterson Companies in a research report on Thursday, November 23rd. Finally, Stifel Nicolaus upgraded shares of Patterson Companies from a sell rating to a hold rating and set a $34.00 price target on the stock in a research report on Wednesday, November 15th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $40.40.
Shares of Patterson Companies (NASDAQ:PDCO) traded up $0.26 during trading hours on Friday, hitting $35.47. 1,614,300 shares of the stock traded hands, compared to its average volume of 1,311,267. The company has a market capitalization of $3,363.41, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 2.03 and a beta of 0.95. The company has a current ratio of 1.94, a quick ratio of 1.10 and a debt-to-equity ratio of 0.73. Patterson Companies has a 52-week low of $32.07 and a 52-week high of $48.29.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the company posted $0.56 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. equities research analysts expect that Patterson Companies will post 2.06 earnings per share for the current fiscal year.
In other news, Director John D. Buck acquired 2,834 shares of Patterson Companies stock in a transaction dated Friday, November 24th. The stock was purchased at an average cost of $34.93 per share, with a total value of $98,991.62. Following the completion of the purchase, the director now directly owns 54,627 shares in the company, valued at approximately $1,908,121.11. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ann B. Gugino sold 750 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total transaction of $27,547.50. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Patterson Companies by 46.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,878,432 shares of the company’s stock valued at $188,551,000 after acquiring an additional 1,536,422 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Patterson Companies by 0.6% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,625,632 shares of the company’s stock valued at $62,831,000 after acquiring an additional 9,343 shares in the last quarter. Shapiro Capital Management LLC grew its stake in Patterson Companies by 7.4% during the second quarter. Shapiro Capital Management LLC now owns 1,539,410 shares of the company’s stock valued at $72,275,000 after acquiring an additional 105,950 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Patterson Companies by 11.4% during the third quarter. Gamco Investors INC. ET AL now owns 1,421,850 shares of the company’s stock valued at $54,955,000 after acquiring an additional 145,668 shares in the last quarter. Finally, FMR LLC grew its stake in Patterson Companies by 5.7% during the second quarter. FMR LLC now owns 1,400,718 shares of the company’s stock valued at $65,763,000 after acquiring an additional 75,354 shares in the last quarter. 93.36% of the stock is owned by hedge funds and other institutional investors.
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About Patterson Companies
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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