Patterson Companies (PDCO) Stock Rating Upgraded by BidaskClub

Patterson Companies (NASDAQ:PDCO) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Patterson Companies from a “buy” rating to a “sell” rating in a research report on Monday, August 27th. ValuEngine upgraded shares of Patterson Companies from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. Morgan Stanley lowered their price objective on shares of Patterson Companies from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Friday, August 31st. Barclays lowered their price objective on shares of Patterson Companies from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, August 31st. Finally, Leerink Swann began coverage on shares of Patterson Companies in a research report on Friday, August 10th. They set a “market perform” rating and a $25.00 price objective on the stock. Eight investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Patterson Companies presently has a consensus rating of “Hold” and an average target price of $25.68.

Shares of NASDAQ PDCO opened at $23.82 on Friday. The company has a market capitalization of $2.23 billion, a PE ratio of 14.18, a PEG ratio of 3.24 and a beta of 1.01. Patterson Companies has a 52-week low of $20.22 and a 52-week high of $38.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.79.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.08). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.30 billion. Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 EPS. On average, research analysts anticipate that Patterson Companies will post 1.42 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Patterson Companies by 3.8% during the third quarter. BlackRock Inc. now owns 9,341,464 shares of the company’s stock valued at $228,399,000 after buying an additional 338,299 shares during the last quarter. Fairpointe Capital LLC increased its holdings in Patterson Companies by 4.1% during the second quarter. Fairpointe Capital LLC now owns 4,994,076 shares of the company’s stock valued at $113,216,000 after buying an additional 196,038 shares during the last quarter. FMR LLC increased its holdings in Patterson Companies by 100.5% during the second quarter. FMR LLC now owns 4,692,969 shares of the company’s stock valued at $106,389,000 after buying an additional 2,352,041 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Patterson Companies by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 2,773,689 shares of the company’s stock valued at $62,879,000 after buying an additional 124,738 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Patterson Companies by 24.4% during the second quarter. Gamco Investors INC. ET AL now owns 2,127,294 shares of the company’s stock valued at $48,226,000 after buying an additional 416,664 shares during the last quarter. 90.51% of the stock is owned by institutional investors and hedge funds.

About Patterson Companies

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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