Price Action Alert: Time to Buy Patterson Companies, Inc. After Reaching 1 Year Low?

Price Action Alert: Time to Buy Patterson Companies, Inc. After Reaching 1 Year Low?

The stock of Patterson Companies, Inc. (NASDAQ:PDCO) hit a new 52-week low and has $36.10 target or 5.00% below today’s $38.00 share price. The 7 months bearish chart indicates high risk for the $3.85 billion company. The 1-year low was reported on Nov, 22 by Barchart.com. If the $36.10 price target is reached, the company will be worth $192.50 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 8.71M shares traded hands or 602.42% up from the average. Patterson Companies, Inc. (NASDAQ:PDCO) has risen 5.39% since April 20, 2016 and is uptrending. It has outperformed by 0.83% the S&P500.

Patterson Companies, Inc. (NASDAQ:PDCO) Ratings Coverage

Out of 5 analysts covering Patterson Companies Inc. (NASDAQ:PDCO), 1 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 20% are positive. Patterson Companies Inc. has been the topic of 7 analyst reports since August 28, 2015 according to StockzIntelligence Inc. Evercore upgraded Patterson Companies, Inc. (NASDAQ:PDCO) on Wednesday, January 6 to “Buy” rating. Piper Jaffray upgraded it to “Overweight” rating and $54 target price in Friday, August 28 report. The firm has “Hold” rating given on Friday, May 27 by Evercore. William Blair maintained the shares of PDCO in a report on Friday, August 28 with “Market Perform” rating. On Friday, August 26 the stock rating was maintained by Robert W. Baird with “Neutral”. As per Thursday, October 6, the company rating was initiated by UBS. The firm has “Underperform” rating given on Wednesday, August 24 by Bank of America.

According to Zacks Investment Research, “Patterson Companies, Inc. is a value-added distributor serving the dental, companion-pet veterinarian and rehabilitation supply markets.”

Insitutional Activity: The institutional sentiment is 1.19 in Q2 2016. Its the same as in 2016Q1. The ratio is the same, as 26 funds sold all Patterson Companies, Inc. shares owned while 119 reduced positions. only 48 funds bought stakes while 125 increased positions. They now own 75.27 million shares or 0.10% more from 75.19 million shares in 2016Q1.
Parkside Finance Bank & Trust holds 0.03% or 1,191 shares in its portfolio. Moreover, Caisse De Depot Et Placement Du Quebec has 0.01% invested in Patterson Companies, Inc. (NASDAQ:PDCO) for 48,300 shares. Gsa Cap Prns Llp has 23,707 shares for 0.06% of their US portfolio. Dimensional Fund L P has 709,932 shares for 0.02% of their US portfolio. Teachers Advisors accumulated 0.01% or 96,580 shares. Capstone Inv Limited Liability Company holds 0.09% or 103,235 shares in its portfolio. Hillsdale Management Inc reported 40 shares or 0% of all its holdings. Creative Planning accumulated 0.01% or 34,022 shares. Louisiana State Employees Retirement holds 0.01% or 5,500 shares in its portfolio. Meeder Asset Management holds 12,523 shares or 0.06% of its portfolio. Lpl Limited Liability Corp has 12,784 shares for 0.01% of their US portfolio. Ig Inv Management Limited last reported 0.05% of its portfolio in the stock. The Michigan-based World Asset Mngmt Inc has invested 0.02% in Patterson Companies, Inc. (NASDAQ:PDCO). The Florida-based Finemark Bank & Trust & has invested 0.01% in Patterson Companies, Inc. (NASDAQ:PDCO). National Bank Of America De holds 0% or 290,471 shares in its portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 2 sales for $71,310 net activity. $36,645 worth of shares were sold by GUGINO ANN B on Tuesday, May 31.

Another recent and important Patterson Companies, Inc. (NASDAQ:PDCO) news was published by Nasdaq.com which published an article titled: “July 2017 Options Now Available For Patterson Companies (PDCO)” on November 21, 2016.

PDCO Company Profile

Patterson Companies, Inc., incorporated on June 15, 1992, is a distributor serving the dental, veterinary and rehabilitation supply markets. The Firm operates through three divisions: dental supply, veterinary supply and rehabilitation supply. The Firm serves the North American dental supply market, the United States and the United Kingdom veterinary supply market, and the across the world rehabilitation and assistive products supply market. The Company’s operating units include Patterson Dental, Patterson Veterinary and Patterson Medical.

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