Patterson Companies, Inc. (NASDAQ:PDCO) is Private Management Group Inc.’s 10th Largest Position

Private Management Group Inc. reduced its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 9.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,369,027 shares of the company’s stock after selling 146,228 shares during the quarter. Patterson Companies comprises approximately 1.5% of Private Management Group Inc.’s portfolio, making the stock its 10th biggest holding. Private Management Group Inc. owned approximately 1.55% of Patterson Companies worth $42,248,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after buying an additional 680 shares in the last quarter. International Assets Investment Management LLC increased its stake in Patterson Companies by 2,084.0% in the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after acquiring an additional 2,084 shares during the last quarter. Anchor Investment Management LLC raised its position in Patterson Companies by 20.5% during the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after purchasing an additional 400 shares in the last quarter. KBC Group NV lifted its stake in Patterson Companies by 32.7% during the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after purchasing an additional 680 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Patterson Companies in the 3rd quarter worth about $65,000. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Stock Performance

Patterson Companies stock opened at $31.01 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.74 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.70 and a beta of 0.90. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79. The firm has a 50-day moving average of $29.17 and a 200-day moving average of $24.68.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the business posted $0.50 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts expect that Patterson Companies, Inc. will post 2.25 EPS for the current year.

Insider Buying and Selling at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the sale, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PDCO shares. Mizuho started coverage on Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price objective on the stock. Leerink Partners restated a “market perform” rating and issued a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Morgan Stanley upped their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. StockNews.com assumed coverage on shares of Patterson Companies in a research report on Thursday, January 30th. They issued a “hold” rating on the stock. Finally, Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Patterson Companies presently has an average rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Company Profile

Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.