Patterson Companies (NASDAQ:PDCO) Upgraded to "Buy" at StockNews.com

Patterson Companies (NASDAQ:PDCO - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

PDCO has been the topic of several other research reports. Piper Sandler downgraded Patterson Companies from an "overweight" rating to a "neutral" rating and cut their target price for the company from $34.00 to $28.00 in a research report on Thursday, February 29th. Leerink Partnrs reiterated an "outperform" rating on shares of Patterson Companies in a research note on Monday, February 26th. SVB Leerink began coverage on shares of Patterson Companies in a research report on Monday, February 26th. They set an "outperform" rating and a $36.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Patterson Companies from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 6th. Finally, Evercore ISI reduced their price objective on Patterson Companies from $28.00 to $27.00 and set an "in-line" rating for the company in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.56.

Patterson Companies Stock Performance

Shares of NASDAQ PDCO traded down $1.00 during trading on Friday, reaching $25.30. 1,731,282 shares of the company traded hands, compared to its average volume of 660,654. The stock has a market capitalization of $2.27 billion, a PE ratio of 12.46, a P/E/G ratio of 1.27 and a beta of 1.07. Patterson Companies has a 52-week low of $24.77 and a 52-week high of $34.53. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $26.41 and a 200-day simple moving average of $28.23.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The firm had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same period in the prior year, the company posted $0.62 earnings per share. The company's revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Patterson Companies will post 2.32 earnings per share for the current year.

Hedge Funds Weigh In On Patterson Companies

A number of institutional investors have recently modified their holdings of PDCO. GAMMA Investing LLC acquired a new position in shares of Patterson Companies during the 4th quarter worth $32,000. Spire Wealth Management purchased a new position in shares of Patterson Companies during the 1st quarter worth about $35,000. Fifth Third Bancorp increased its position in Patterson Companies by 54.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company's stock worth $36,000 after purchasing an additional 434 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in Patterson Companies during the 4th quarter worth approximately $55,000. Finally, Signaturefd LLC grew its position in Patterson Companies by 93.5% in the fourth quarter. Signaturefd LLC now owns 2,107 shares of the company's stock valued at $60,000 after acquiring an additional 1,018 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

About Patterson Companies

Patterson Companies, Inc engages in the 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.

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