Shares of Patterson Companies, Inc. (NASDAQ:PDCO) rose 5.3% on Tuesday . The company traded as high as $37.47 and last traded at $37.30. Approximately 2,551,800 shares changed hands during mid-day trading, an increase of 96% from the average daily volume of 1,301,880 shares. The stock had previously closed at $35.41.
PDCO has been the subject of a number of recent research reports. TheStreet downgraded Patterson Companies from a “b-” rating to a “c” rating in a report on Thursday, August 24th. Stifel Nicolaus upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a report on Wednesday, November 15th. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Morgan Stanley initiated coverage on Patterson Companies in a report on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 price objective for the company. Finally, Jefferies Group restated a “hold” rating and issued a $37.00 price objective on shares of Patterson Companies in a report on Thursday, November 23rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Patterson Companies has an average rating of “Hold” and an average price target of $41.20.
The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3,391.43, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95.
In related news, Director John D. Buck acquired 2,834 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were bought at an average price of $34.93 per share, with a total value of $98,991.62. Following the transaction, the director now directly owns 54,627 shares of the company’s stock, valued at $1,908,121.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ann B. Gugino sold 750 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total transaction of $27,547.50. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Amica Retiree Medical Trust boosted its position in shares of Patterson Companies by 433.8% during the 3rd quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock worth $116,000 after purchasing an additional 2,429 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Patterson Companies by 423.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock worth $118,000 after purchasing an additional 2,041 shares in the last quarter. Commonwealth Bank of Australia boosted its position in shares of Patterson Companies by 15.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after purchasing an additional 415 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Patterson Companies by 4.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after purchasing an additional 150 shares in the last quarter. Finally, Palisade Asset Management LLC bought a new position in shares of Patterson Companies during the 2nd quarter worth about $188,000. 93.36% of the stock is currently owned by institutional investors.
Patterson Companies Company Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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