Barclays PLC Buys 44,906 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Barclays PLC lifted its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 37.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,715 shares of the company's stock after acquiring an additional 44,906 shares during the quarter. Barclays PLC owned approximately 0.19% of Patterson Companies worth $3,619,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. LRI Investments LLC raised its holdings in Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company's stock worth $30,000 after purchasing an additional 843 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Patterson Companies during the second quarter worth approximately $41,000. Meeder Asset Management Inc. acquired a new position in Patterson Companies in the second quarter valued at approximately $45,000. International Assets Investment Management LLC boosted 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. Finally, Innealta Capital LLC acquired a new stake in Patterson Companies during the 2nd quarter worth $66,000. Institutional investors and hedge funds own 85.43% of the company's stock.

Patterson Companies Stock Performance

PDCO stock remained flat at $30.86 during mid-day trading on Monday. 1,556,224 shares of the company's stock traded hands, compared to its average volume of 1,024,812. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a 52-week low of $19.45 and a 52-week high of $31.79. The business has a fifty day simple moving average of $22.79 and a 200 day simple moving average of $23.15. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 2.70 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The company's revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. On average, equities research analysts predict that Patterson Companies, Inc. will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the business's stock in a transaction on 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 $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PDCO. UBS Group cut their price target on Patterson Companies from $27.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Bank of America cut their target price on Patterson Companies from $31.00 to $29.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Mizuho initiated coverage on Patterson Companies in a report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 target price on the stock. Morgan Stanley upped their price target on Patterson Companies from $27.00 to $31.35 and gave the company an "equal weight" rating in a research note on Tuesday, December 17th. Finally, Piper Sandler reduced their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Patterson Companies has an average rating of "Hold" and a consensus target price 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.