Ieq Capital LLC Makes New Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Ieq Capital LLC bought a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,224 shares of the company's stock, valued at approximately $316,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates increased its holdings in Patterson Companies by 19.6% during the 3rd quarter. Raymond James & Associates now owns 244,748 shares of the company's stock worth $5,345,000 after acquiring an additional 40,125 shares during the period. International Assets Investment Management LLC grew its position in shares of Patterson Companies by 2,084.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company's stock valued at $48,000 after purchasing an additional 2,084 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Patterson Companies by 12.8% in the third quarter. Allworth Financial LP now owns 9,665 shares of the company's stock worth $211,000 after purchasing an additional 1,098 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Patterson Companies by 43.7% in the third quarter. Nisa Investment Advisors LLC now owns 31,358 shares of the company's stock worth $685,000 after buying an additional 9,529 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its position in shares of Patterson Companies by 55.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 21,593 shares of the company's stock worth $472,000 after buying an additional 7,688 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

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Insider Activity

In related news, CEO Donald Zurbay sold 1,962 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the sale, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PDCO. Stifel Nicolaus decreased their target price on Patterson Companies from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Thursday, December 5th. Robert W. Baird upped their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. StockNews.com began coverage on shares of Patterson Companies in a research note on Monday. They issued a "hold" rating on the stock. Leerink Partners reissued a "market perform" rating and issued a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Finally, Morgan Stanley increased their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Patterson Companies has an average rating of "Hold" and a consensus target price of $26.57.

Patterson Companies Trading Up 0.0 %

Patterson Companies stock traded up $0.01 during mid-day trading on Monday, hitting $31.15. The company's stock had a trading volume of 751,878 shares, compared to its average volume of 1,000,274. The business has a 50 day moving average price of $30.95 and a 200-day moving average price of $25.46. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 18.21, 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 - Get Free Report) last released its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $0.50 EPS. The company's revenue was up 1.0% on a year-over-year basis. As a group, analysts forecast that Patterson Companies, Inc. will post 2.25 EPS for the current year.

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.