Equities research analysts at Royal Bank Of Canada began coverage on shares of Patterson Companies, Inc. (NASDAQ:PDCO) in a note issued to investors on Tuesday. The brokerage set a “sector perform” rating and a $42.00 price target on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 11.05% from the stock’s previous close.

PDCO has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Cleveland Research reiterated a “hold” rating on shares of Patterson Companies in a research report on Tuesday, August 22nd. Stifel Nicolaus cut their target price on shares of Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Tuesday, August 15th. UBS AG upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $40.00 target price on the stock in a research report on Friday, August 25th. Finally, Craig Hallum reiterated a “sell” rating and set a $41.00 target price (down from $46.00) on shares of Patterson Companies in a research report on Thursday, August 17th. They noted that the move was a valuation call. Five research 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. The company has a consensus rating of “Hold” and an average price target of $42.80.

Shares of Patterson Companies (NASDAQ:PDCO) opened at 37.82 on Tuesday. The firm has a 50 day moving average of $38.25 and a 200 day moving average of $43.09. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 21.98 and a beta of 0.97. Patterson Companies has a 52 week low of $35.93 and a 52 week high of $49.26.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.44. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company posted $0.51 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts predict that Patterson Companies will post $2.29 earnings per share for the current fiscal year.

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In other news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total value of $31,800.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PDCO. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of Patterson Companies by 27.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock worth $104,000 after purchasing an additional 500 shares during the period. Advisory Services Network LLC lifted its position in shares of Patterson Companies by 423.4% in 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 during the period. Invictus RG acquired a new position in shares of Patterson Companies in the 1st quarter worth approximately $119,000. Commonwealth Bank of Australia lifted its position in shares of Patterson Companies by 15.9% in 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 during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Patterson Companies by 4.4% in 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 during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

About Patterson Companies

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.

Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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