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Piper Sandler Downgrades Patterson Companies Inc. (PDCO) to a Neutral from an Overweight

In a filing, Patterson Companies Inc. revealed its Chief Financial Officer BARRY KEVIN MICHAEL unloaded Company’s shares for reported $15221.0 on Dec 19 ’23. In the deal valued at $27.18 per share,560 shares were sold. As a result of this transaction, BARRY KEVIN MICHAEL now holds 21,674 shares worth roughly $0.55 million.

Then, Zurbay Donald sold 1,868 shares, generating $49,651 in total proceeds. Upon selling the shares at $26.58, the President & CEO now owns 141,923 shares.

Before that, BARRY KEVIN MICHAEL sold 1,627 shares. Patterson Companies Inc. shares valued at $41,261 were divested by the Chief Financial Officer at a price of $25.36 per share. As a result of the transaction, BARRY KEVIN MICHAEL now holds 23,103 shares, worth roughly $0.59 million.

Piper Sandler downgraded its Patterson Companies Inc. [PDCO] rating to a Neutral from a an Overweight in a research note published on February 29, 2024; the price target was decreased to $28 from $34. A number of analysts have revised their coverage, including Leerink Partners’s analysts, who began to cover the stock in late February with a ‘”an Outperform”‘ rating. Morgan Stanley started covering the stock on January 31, 2022. It rated PDCO as “an Equal-weight”.

Price Performance Review of PDCO

On Tuesday, Patterson Companies Inc. [NASDAQ:PDCO] saw its stock fall -2.04% to $25.47. Over the last five days, the stock has lost -1.93%. Patterson Companies Inc. shares have fallen nearly -10.47% since the year began. Nevertheless, the stocks have fallen -6.05% over the past one year. While a 52-week high of $34.53 was reached on 01/23/24, a 52-week low of $25.00 was recorded on 04/15/24. SMA at 50 days reached $26.79, while 200 days put it at $29.36. A total of 0.91 million shares were traded, compared to the trading of 0.54 million shares in the previous session.

Levels Of Support And Resistance For PDCO Stock

The 24-hour chart illustrates a support level at 25.29, which if violated will result in even more drops to 25.11. On the upside, there is a resistance level at 25.78. A further resistance level may holdings at 26.09. The Relative Strength Index (RSI) on the 14-day chart is 39.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.48%. Stochastics %K at 51.03% indicates the stock is a holding.

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