Patterson Cos.’s (PDCO) Hold Rating Reaffirmed at Evercore ISI
Evercore ISI restated their hold rating on shares of Patterson Cos. (NASDAQ:PDCO) in a research note issued to investors on Monday. The brokerage currently has a $39.00 price target on the stock, down from their previous price target of $46.00.
Other equities research analysts have also issued reports about the stock. Jefferies Group reissued a hold rating on shares of Patterson Cos. in a report on Thursday, August 4th. Bank of America Corp. initiated coverage on shares of Patterson Cos. in a report on Wednesday, August 24th. They set an underperform rating and a $44.00 price objective on the stock. Zacks Investment Research raised shares of Patterson Cos. from a sell rating to a hold rating in a report on Monday, September 5th. TheStreet raised shares of Patterson Cos. from a hold rating to a buy rating in a report on Friday, November 11th. Finally, Robert W. Baird reissued a neutral rating and set a $49.00 price objective (down from $51.00) on shares of Patterson Cos. in a report on Friday, August 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $46.67.
Patterson Cos. (NASDAQ:PDCO) opened at 38.80 on Monday. The company has a market cap of $3.70 billion, a P/E ratio of 19.13 and a beta of 0.97. Patterson Cos. has a one year low of $36.46 and a one year high of $50.40. The company has a 50-day moving average of $44.75 and a 200 day moving average of $46.63.
Patterson Cos. (NASDAQ:PDCO) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by $0.04. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. Patterson Cos. had a return on equity of 17.17% and a net margin of 3.69%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. Analysts anticipate that Patterson Cos. will post $2.57 earnings per share for the current year.
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Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Patterson Cos. by 1.6% in the second quarter. Vanguard Group Inc. now owns 7,763,526 shares of the company’s stock valued at $371,795,000 after buying an additional 122,202 shares during the last quarter. Parnassus Investments CA raised its stake in Patterson Cos. by 0.3% in the third quarter. Parnassus Investments CA now owns 7,077,566 shares of the company’s stock valued at $325,143,000 after buying an additional 21,592 shares during the last quarter. Wells Fargo & Company MN raised its stake in Patterson Cos. by 30.5% in the third quarter. Wells Fargo & Company MN now owns 3,492,088 shares of the company’s stock valued at $160,426,000 after buying an additional 816,091 shares during the last quarter. BlackRock Fund Advisors raised its stake in Patterson Cos. by 2.3% in the third quarter. BlackRock Fund Advisors now owns 2,890,149 shares of the company’s stock valued at $132,773,000 after buying an additional 65,947 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Patterson Cos. by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,615,682 shares of the company’s stock valued at $120,164,000 after buying an additional 47,498 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.
About Patterson Cos.
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
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