Patterson Companies (NASDAQ:PDCO) Coverage Initiated at Mizuho

Investment analysts at Mizuho assumed coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “neutral” rating and a $23.00 price target on the stock. Mizuho’s price target would indicate a potential upside of 0.74% from the stock’s current price.

Other analysts have also recently issued reports about the company. Evercore ISI lowered their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lowered their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. UBS Group reduced their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Robert W. Baird lowered their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, Bank of America reduced their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.80.

Patterson Companies Stock Performance

PDCO stock opened at $22.83 on Wednesday. The stock’s fifty day moving average is $21.01 and its two-hundred day moving average is $22.82. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.57 and a beta of 1.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. Patterson Companies has a 1 year low of $19.45 and a 1 year high of $30.68.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts predict that Patterson Companies will post 2.32 EPS for the current year.

Institutional Investors Weigh In On Patterson Companies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Equity Investment Corp acquired a new stake in shares of Patterson Companies during the second quarter worth $37,935,000. Private Management Group Inc. increased its stake in Patterson Companies by 268.5% in the 2nd quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock worth $34,532,000 after purchasing an additional 1,043,201 shares in the last quarter. LSV Asset Management raised its holdings in Patterson Companies by 58.8% during the 2nd quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock worth $33,559,000 after buying an additional 515,299 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in Patterson Companies during the third quarter valued at about $11,183,000. Finally, American Century Companies Inc. boosted its holdings in shares of Patterson Companies by 83.6% in the second quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock worth $21,775,000 after buying an additional 411,012 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Company Profile

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.