In a recent report released by Benzinga, Stifel Nicolaus reiterated its “hold” rating for Patterson Companies (NASDAQ:PDCO). The stock analysts at Stifel Nicolaus also maintained their target price of $32.00, suggesting a potential upside of 6.52% from the stock’s previous closing price.
On Thursday, September 3rd, NASDAQ PDCO opened at $30.04. Over the past fifty days, the company has had a moving average of $32.81 and a two-hundred-day moving average of $29.09. Patterson Companies has a market capitalization of $2.87 billion and operates with a PE ratio of 14.17, along with a P/E/G ratio of 1.48 and a beta of 1.30.
Over the past year, Patterson Companies have witnessed its shares reach a low of $23.87 and a high of $34.53. The company’s financials show that it has a debt-to-equity ratio of 0.40, current ratio of 1.64, and quick ratio of 0.91.
Recent filings reveal changes in holdings by institutional investors as well. SYSTM Wealth Solutions LLC acquired a new position in Patterson Companies during the fourth quarter worth $485,000, while Boston Partners added to their position during the same period with an acquisition worth $317,000 in shares of Patterson Companies stock.
Other institutional investors also demonstrated increased involvement in Patterson Companies over the last quarter: Great Lakes Advisors LLC boosted its holdings by 66.3% and now owns 146,363 shares worth approximately $3,918,000; Keeley Teton Advisors LLC grew its stake by 31.7% to include an additional 13,200 shares valued at approximately $1,536,000; finally, Spire Wealth Management reported gaining 99,307 shares during the first quarter, demonstrating an increase of 28,784.6%.
On August 30th, Patterson Companies announced its earnings results for the quarter, reporting an earnings per share (EPS) of $0.40, meeting analysts’ consensus estimates. The firm recorded revenue of $1.58 billion during the same period, in line with analysts’ expectations. Patterson Companies reported a return on equity of 22.04% and a net margin of 3.21%. In comparison to the previous year’s figures, the company’s revenue increased by 3.5%. For the current fiscal year, analysts expect Patterson Companies to post earnings per share of approximately $2.50.
In conclusion, despite receiving a “hold” rating from Stifel Nicolaus, Patterson Companies’ financial indicators show promise for potential growth and positive performance in the coming months. Investors should keep a close eye on market developments and monitor any changes that may affect their investment decisions regarding PDCO stock.
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Perplexity Surrounding Patterson Companies: Conflicting Reports and Insider Trading
Patterson Companies (PDCO), a global leader in dental and animal health products, has recently attracted attention from various research reports. One such report came from StockNews.com, which downgraded the company’s shares from a “strong-buy” rating to a “buy” rating. This downgrade sparked the curiosity of investors and analysts alike, prompting further investigation into the company’s performance.
In response to the downgrade, Piper Sandler raised their target price on Patterson Companies’ shares from $35.00 to $39.00 in a report dated June 22nd, while Bank of America increased their price target to $40.00. Additionally, Robert W. Baird raised their price objective from $31.00 to $35.00.
With conflicting assessments from different analysts, it becomes increasingly perplexing for potential investors to determine the true value of PDCO stock. Three equities research analysts have rated the stock as a hold, while three others have assigned it a buy rating.
According to Bloomberg.com data, Patterson Companies currently holds a consensus rating of “Moderate Buy,” indicating mixed opinions on its future prospects. The average price target stands at $35.00 per share, providing some guidance for investors who are navigating this bewildering landscape.
Amidst these evaluations and ratings, insider trading activities within the company have garnered some attention as well. Les B. Korsh, an insider at Patterson Companies, sold 908 shares of PDCO stock in two separate transactions in July 2023.
The first transaction occurred on Wednesday, July 5th when Korsh sold 908 shares at an average price of $32.34, amounting to a total transaction value of $29,364.72 USD. Following this sale, Korsh now owns 74,265 shares valued at approximately $2,401,730.10.
Furthermore, on Wednesday June 21st , Korsh sold an additional 3,500 shares of PDCO stock at an average price of $31.75, totaling $111,125.00. After this transaction, Korsh’s holdings decreased to 67,949 shares with an estimated value of $2,157,380.75.
These insider trading activities raise questions about the motivations behind these sales and could potentially influence investor sentiment surrounding Patterson Companies.
It is worth noting that in the last 90 days alone, corporate insiders have sold a substantial amount of PDCO shares. The total value of these transactions reached approximately $496,590 USD. These insider sales account for around 1.50% of the company’s outstanding shares.
This flurry of insider trading adds yet another layer of complexity and uncertainty to the ongoing analysis of Patterson Companies’ performance. Investors must carefully consider these transactions and their potential implications before making any investment decisions regarding PDCO stock.
In conclusion, following conflicting research reports and insider trading activities within Patterson Companies, investors find themselves facing a high degree of perplexity when considering the company’s future prospects. With a “Moderate Buy” consensus rating and an average price target of $35.00 per share according to Bloomberg.com data, investors must exercise caution and perform thorough due diligence before making any investment decisions related to PDCO stock.
