Rhumbline Advisers Has $8.10 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Rhumbline Advisers increased its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 262,409 shares of the company’s stock after buying an additional 6,852 shares during the quarter. Rhumbline Advisers owned 0.30% of Patterson Companies worth $8,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in shares of Patterson Companies by 31.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock worth $726,000 after acquiring an additional 7,969 shares during the period. Equity Investment Corp raised its stake in shares of Patterson Companies by 10.6% in the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after purchasing an additional 166,899 shares in the last quarter. Goodman Financial Corp lifted its position in Patterson Companies by 19.1% in the third quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after purchasing an additional 86,972 shares during the period. Mork Capital Management LLC boosted its stake in Patterson Companies by 142.9% during the third quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock worth $1,856,000 after buying an additional 50,000 shares in the last quarter. Finally, Barclays PLC boosted its stake in Patterson Companies by 37.2% during the third quarter. Barclays PLC now owns 165,715 shares of the company’s stock worth $3,619,000 after buying an additional 44,906 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Stock Up 0.0 %

NASDAQ PDCO opened at $31.08 on Wednesday. The stock’s 50 day simple moving average is $30.93 and its 200 day simple moving average is $25.27. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $31.79. The firm has a market cap of $2.74 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, December 5th. The company reported $0.47 EPS 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 for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $0.50 EPS. Patterson Companies’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that Patterson Companies, Inc. will post 2.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PDCO. Piper Sandler reduced their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. StockNews.com initiated coverage on shares of Patterson Companies in a research report on Sunday. They issued a “hold” rating for the company. Mizuho began 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 reiterated a “market perform” rating and issued a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Finally, Robert W. Baird raised their target price on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Patterson Companies currently has a consensus rating of “Hold” and an average target price of $26.57.

Patterson Companies 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.