Tritonpoint Wealth LLC Takes Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Tritonpoint Wealth LLC purchased a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,551 shares of the company's stock, valued at approximately $264,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company's stock worth $41,000 after buying an additional 680 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company's stock worth $48,000 after acquiring an additional 2,084 shares during the period. Anchor Investment Management LLC lifted its position in Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company's stock valued at $51,000 after acquiring an additional 400 shares in the last quarter. Blue Trust Inc. boosted its stake in Patterson Companies by 18.0% in the 4th quarter. Blue Trust Inc. now owns 2,738 shares of the company's stock worth $84,000 after purchasing an additional 417 shares during the period. Finally, KBC Group NV increased its holdings in Patterson Companies by 32.7% during the 3rd quarter. KBC Group NV now owns 2,757 shares of the company's stock worth $60,000 after purchasing an additional 680 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company's stock.

Patterson Companies Stock Up 0.1 %

Shares of NASDAQ PDCO traded up $0.02 during trading on Thursday, hitting $31.03. 871,453 shares of the company traded hands, compared to its average volume of 1,487,936. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 2.70 and a beta of 0.90. The business's fifty day moving average is $29.36 and its 200 day moving average is $24.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (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 firm had revenue of $1.67 billion during 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. The firm's revenue was up 1.0% on a year-over-year basis. Equities research analysts predict 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 Patterson Companies 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 sale, the chief executive officer now 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 link. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Leerink Partners reaffirmed a "market perform" rating and set a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Robert W. Baird lifted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. StockNews.com initiated coverage on shares of Patterson Companies in a research note on Thursday, January 30th. They set a "hold" rating on the stock. Mizuho started coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price target for the company. Finally, Leerink Partnrs cut shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Patterson Companies has an average rating of "Hold" and an average price target of $26.57.

About Patterson Companies

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.