Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Patterson Companies Inc. shares valued at $15,221 were sold by BARRY KEVIN MICHAEL on Dec 19 ’23. At $27.18 per share, BARRY KEVIN MICHAEL sold 560 shares. The insider’s holdings dropped to 21,674 shares worth approximately $0.56 million following the completion of this transaction.
Also, Zurbay Donald sold 1,868 shares, netting a total of over 49,651 in proceeds. Following the sale of shares at $26.58 each, the insider now holds 141,923 shares.
Before that, BARRY KEVIN MICHAEL had sold 1,627 shares from its account. In a trade valued at $41,261, the Chief Financial Officer traded Patterson Companies Inc. shares for $25.36 each. Upon closing the transaction, the insider’s holdings decreased to 1,627 shares, worth approximately $0.59 million.
As published in a research note from Piper Sandler on February 29, 2024, Patterson Companies Inc. [PDCO] has been rated down from an Overweight to a Neutral and the price target has been revised to $28 from $34. Analysts at Leerink Partners started covering the stock with ‘”an Outperform”‘ outlook in a report released in late February. Earlier on January 31, 2022, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for PDCO stock.
Analyzing PDCO Stock Performance
During the last five days, there has been a drop of approximately -2.39%. Over the course of the year, Patterson Companies Inc. shares have dropped approximately -9.56%. Shares of the company reached a 52-week high of $30.68 on 01/23/24 and a 52-week low of $25.45 on 04/11/24. A 50-day SMA is recorded $27.62, while a 200-day SMA reached $29.79. Nevertheless, trading volume fell to 0.56 million shares from 0.57 million shares the previous day.
Support And Resistance Levels for Patterson Companies Inc. (PDCO)
According to the 24-hour chart, there is a support level at 25.48, which, if violated, would cause prices to drop to 25.23. In the upper region, resistance lies at 25.95. The next price resistance is at 26.16. RSI (Relative Strength Index) is 35.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.71, which suggests the price will decrease in the coming days. Percent R is at 89.39%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Patterson Companies Inc. subject to short interest?
Stocks of Patterson Companies Inc. saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.14 million shares to 3.04 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.18 million shares. A decline of -4.61% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.18 of the overall float, the days-to-cover ratio (short ratio) decline to 3.18.
