JPMorgan Chase & Co. Sells 59,624 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

JPMorgan Chase & Co. reduced its stake in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 12.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,155 shares of the company's stock after selling 59,624 shares during the quarter. JPMorgan Chase & Co. owned about 0.49% of Patterson Companies worth $9,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PDCO. Canada Pension Plan Investment Board bought a new position in shares of Patterson Companies during the 2nd quarter valued at about $41,000. Meeder Asset Management Inc. bought a new position in Patterson Companies during the second quarter valued at approximately $45,000. International Assets Investment Management LLC raised its stake 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 in the last quarter. KBC Group NV lifted its holdings in shares of Patterson Companies by 32.7% in the 3rd quarter. KBC Group NV now owns 2,757 shares of the company's stock worth $60,000 after acquiring an additional 680 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Patterson Companies in the 3rd quarter valued at $65,000. 85.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. Robert W. Baird raised their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Stifel Nicolaus lowered their target price on Patterson Companies from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Thursday, December 5th. Mizuho initiated coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price target on the stock. Finally, Leerink Partners reaffirmed a "market perform" rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $26.57.

Patterson Companies Trading Up 0.2 %

Shares of PDCO traded up $0.05 during mid-day trading on Tuesday, hitting $30.89. 2,432,756 shares of the company's stock traded hands, compared to its average volume of 1,727,232. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.73 billion, a P/E ratio of 18.06, a PEG ratio of 2.70 and a beta of 0.89. The business's 50-day moving average price is $26.10 and its 200-day moving average price is $23.99. Patterson Companies, Inc. has a 1 year low of $19.45 and a 1 year high of $31.79.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.65 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Patterson Companies, Inc. will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

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.