Dana Investment Advisors Inc. lowered its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 33.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,443 shares of the company's stock after selling 92,655 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.21% of Patterson Companies worth $5,723,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Values First Advisors Inc. grew its holdings in Patterson Companies by 2.9% during the 4th quarter. Values First Advisors Inc. now owns 11,961 shares of the company's stock worth $369,000 after acquiring an additional 337 shares in the last quarter. Anchor Investment Management LLC grew 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 worth $51,000 after purchasing an additional 400 shares in the last quarter. Blue Trust Inc. grew its stake in Patterson Companies by 18.0% in the fourth quarter. Blue Trust Inc. now owns 2,738 shares of the company's stock worth $84,000 after purchasing an additional 417 shares in the last quarter. Spire Wealth Management increased its holdings in Patterson Companies by 11.2% in the fourth quarter. Spire Wealth Management now owns 4,160 shares of the company's stock valued at $128,000 after buying an additional 419 shares during the last quarter. Finally, US Bancorp DE raised its stake in Patterson Companies by 1.6% during the fourth quarter. US Bancorp DE now owns 32,767 shares of the company's stock valued at $1,011,000 after buying an additional 514 shares in the last quarter. Institutional investors own 85.43% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on PDCO. Leerink Partners reiterated a "market perform" rating and issued a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Piper Sandler decreased 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. Stifel Nicolaus dropped 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 downgraded shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Finally, Robert W. Baird increased their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.57.
Read Our Latest Analysis on Patterson Companies
Patterson Companies Stock Performance
PDCO traded down $0.01 during trading hours on Monday, hitting $31.12. The company's stock had a trading volume of 1,113,300 shares, compared to its average volume of 1,010,509. The company has a 50-day simple moving average of $30.98 and a 200 day simple moving average of $25.69. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.75 billion, a PE ratio of 18.20, a PEG ratio of 2.71 and a beta of 0.99. 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 issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. Patterson Companies's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share. As a group, sell-side analysts expect that Patterson Companies, Inc. will post 2.25 EPS for the current year.
About Patterson Companies
(
Free Report)
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.
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