Allspring Global Investments Holdings LLC Has $51.95 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Allspring Global Investments Holdings LLC reduced its holdings in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 22.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,686,523 shares of the company's stock after selling 497,417 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.91% of Patterson Companies worth $51,945,000 as of its most recent SEC filing.

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

Patterson Companies Stock Down 0.0 %

PDCO stock traded down $0.01 during midday trading on Monday, hitting $31.03. The company's stock had a trading volume of 748,496 shares, compared to its average volume of 1,382,452. The company's fifty day moving average price is $30.62 and its 200 day moving average price is $24.99. 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, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79. The stock has a market capitalization of $2.74 billion, a P/E ratio of 18.15, a PEG ratio of 2.70 and a beta of 0.90.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last released its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) 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 analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted $0.50 EPS. Patterson Companies's revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Patterson Companies, Inc. will post 2.25 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on PDCO shares. Leerink Partners reiterated a "market perform" rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Stifel Nicolaus cut their target price on shares of Patterson Companies from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Thursday, December 5th. Leerink Partnrs lowered shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Morgan Stanley raised their price objective on Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Finally, Piper Sandler decreased their target price on Patterson Companies from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.57.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief executive officer now owns 222,736 shares of the company's stock, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.90% of the company's stock.

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.