Park Dental Partners (NASDAQ:PARK) Announces Quarterly Earnings Results, Beats Estimates By $0.37 EPS

Park Dental Partners (NASDAQ:PARK) posted its quarterly earnings results on Wednesday. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.37, Zacks reports. The company had revenue of $61.21 million for the quarter, compared to analysts’ expectations of $59.20 million.

Park Dental Partners Stock Down 1.1%

PARK stock traded down $0.22 during trading on Friday, hitting $19.19. The company had a trading volume of 6,691 shares, compared to its average volume of 45,691. The firm has a 50 day moving average price of $16.58. Park Dental Partners has a fifty-two week low of $9.53 and a fifty-two week high of $21.59.

Wall Street Analysts Forecast Growth

PARK has been the subject of several research analyst reports. Wall Street Zen upgraded Park Dental Partners to a “hold” rating in a research note on Monday, December 15th. Craig Hallum initiated coverage on shares of Park Dental Partners in a research note on Tuesday, January 6th. They issued a “buy” rating and a $22.00 price target for the company. Northland Securities initiated coverage on Park Dental Partners in a report on Monday, January 5th. They set an “outperform” rating and a $21.50 target price on the stock. Finally, Zacks Research upgraded shares of Park Dental Partners to a “hold” rating in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Park Dental Partners currently has an average rating of “Buy” and an average price target of $21.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PARK. Kennedy Capital Management LLC acquired a new stake in Park Dental Partners in the fourth quarter worth approximately $3,478,000. Heartland Advisors Inc. acquired a new stake in shares of Park Dental Partners in the fourth quarter valued at $2,251,000. Russell Investments Group Ltd. bought a new position in Park Dental Partners during the fourth quarter valued at about $1,522,000. Finally, Boston Partners acquired a new position in Park Dental Partners during the fourth quarter worth about $576,000.

Park Dental Partners Company Profile

Park Dental Partners (NASDAQ: PARK) is a dental support organization that provides business and administrative services to affiliated dental practices. The company focuses on enabling dental clinicians to concentrate on patient care by delivering centralized non-clinical functions that support day-to-day operations and practice growth.

Services typically offered by Park Dental Partners include practice management, billing and revenue cycle management, procurement and supply-chain support, information technology, human resources, marketing and patient acquisition, and regulatory and compliance assistance.