Equity Investment Corp Acquires 289,295 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Equity Investment Corp grew its position in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,028,964 shares of the company's stock after acquiring an additional 289,295 shares during the quarter. Equity Investment Corp owned 2.30% of Patterson Companies worth $62,614,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Values First Advisors Inc. lifted its position in shares of 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 buying an additional 337 shares during the period. Anchor Investment Management LLC lifted its position in shares of Patterson Companies by 20.5% during the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company's stock worth $51,000 after buying an additional 400 shares during the period. Blue Trust Inc. lifted its position in shares of Patterson Companies by 18.0% during the 4th quarter. Blue Trust Inc. now owns 2,738 shares of the company's stock worth $84,000 after buying an additional 417 shares during the period. Spire Wealth Management lifted its position in shares of Patterson Companies by 11.2% during the 4th quarter. Spire Wealth Management now owns 4,160 shares of the company's stock worth $128,000 after buying an additional 419 shares during the period. Finally, KBC Group NV lifted its position in shares of 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 buying an additional 680 shares during the period. Institutional investors own 85.43% of the company's stock.

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Patterson Companies Trading Down 0.0 %

Shares of NASDAQ PDCO traded down $0.01 during midday trading on Friday, hitting $31.14. The stock had a trading volume of 931,040 shares, compared to its average volume of 1,347,996. The company's 50-day simple moving average is $30.95 and its 200 day simple moving average is $25.45. The firm has a market cap of $2.76 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. 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 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). The firm had revenue of $1.67 billion during 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%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share. Research analysts anticipate that Patterson Companies, Inc. will post 2.25 EPS for the current year.

Insider Activity

In related news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction on Monday, December 9th. The stock was 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 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 Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

PDCO has been the subject of several analyst reports. Leerink Partnrs downgraded Patterson Companies from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Stifel Nicolaus dropped their price target on Patterson Companies from $25.00 to $24.00 and set a "hold" rating for the company in a report on Thursday, December 5th. Piper Sandler dropped their price target on Patterson Companies from $26.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, December 6th. Robert W. Baird raised their price target on Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Finally, Mizuho initiated coverage on Patterson Companies in a report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price target for the company. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Patterson Companies currently has an average rating of "Hold" and a consensus price target of $26.57.

Patterson Companies 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.