StockNews.com Begins Coverage on Patterson Companies (NASDAQ:PDCO)

Equities researchers at StockNews.com assumed coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note issued on Tuesday. The firm set a “hold” rating on the stock.

Several other brokerages have also recently weighed in on PDCO. Leerink Partnrs cut shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird lifted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Morgan Stanley boosted their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Mizuho began coverage on Patterson Companies in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Stifel Nicolaus reduced their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $31.14 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99. The stock’s 50-day moving average is $30.99 and its 200-day moving average is $25.81. Patterson Companies has a one year low of $19.45 and a one year high of $31.79.

Institutional Trading of Patterson Companies

Several hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. bought a new position in Patterson Companies during the 4th quarter worth $26,000. Huntington National Bank raised its position in shares of Patterson Companies by 54.0% in the 4th quarter. Huntington National Bank now owns 1,115 shares of the company’s stock valued at $34,000 after buying an additional 391 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after acquiring an additional 680 shares during the period. Anchor Investment Management LLC boosted its position in shares of Patterson Companies by 20.5% during the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after acquiring an additional 400 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Patterson Companies by 501.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company’s stock worth $58,000 after acquiring an additional 1,570 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.