Patterson Companies (NASDAQ:PDCO) Lifted to “Strong-Buy” at BidaskClub

Patterson Companies (NASDAQ:PDCO) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday, May 10th, BidAskClub reports.

Other analysts have also recently issued reports about the stock. UBS Group began coverage on shares of Patterson Companies in a research report on Thursday, January 17th. They set a “neutral” rating and a $23.00 target price on the stock. ValuEngine cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Guggenheim started coverage on shares of Patterson Companies in a research report on Wednesday, April 17th. They set a “neutral” rating and a $23.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Patterson Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Seven research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $21.86.

Patterson Companies stock traded down $0.10 during mid-day trading on Friday, hitting $22.05. The stock had a trading volume of 477,688 shares, compared to its average volume of 864,959. The company has a market capitalization of $2.11 billion, a P/E ratio of 13.13, a P/E/G ratio of 2.60 and a beta of 1.33. Patterson Companies has a one year low of $18.94 and a one year high of $26.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 1.80.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, February 28th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Patterson Companies had a net margin of 1.38% and a return on equity of 8.50%. During the same quarter in the previous year, the company earned $0.43 EPS. Analysts forecast that Patterson Companies will post 1.43 EPS for the current year.

A number of hedge funds have recently modified their holdings of PDCO. Enlightenment Research LLC bought a new position in shares of Patterson Companies during the fourth quarter valued at approximately $28,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Patterson Companies by 1,913.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 649,645 shares of the company’s stock valued at $33,000 after purchasing an additional 617,386 shares in the last quarter. One Wealth Advisors LLC bought a new position in shares of Patterson Companies during the first quarter valued at approximately $33,000. Financial Gravity Wealth Inc. bought a new position in shares of Patterson Companies during the first quarter valued at approximately $49,000. Finally, Royce & Associates LP boosted its stake in shares of Patterson Companies by 34.4% during the first quarter. Royce & Associates LP now owns 2,553 shares of the company’s stock valued at $56,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

Patterson Companies Company Profile

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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