Nordea Investment Management AB Has $17.68 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Nordea Investment Management AB reduced its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 64.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 572,842 shares of the company's stock after selling 1,041,211 shares during the quarter. Nordea Investment Management AB owned about 0.65% of Patterson Companies worth $17,678,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. TD Asset Management Inc boosted its stake in Patterson Companies by 26.1% in the 2nd quarter. TD Asset Management Inc now owns 22,200 shares of the company's stock worth $535,000 after purchasing an additional 4,600 shares during the period. Savant Capital LLC bought a new position in shares of Patterson Companies in the 2nd quarter valued at approximately $422,000. Quest Partners LLC raised its stake in shares of Patterson Companies by 15,728.6% in the 2nd quarter. Quest Partners LLC now owns 5,540 shares of the company's stock valued at $134,000 after acquiring an additional 5,505 shares in the last quarter. Choreo LLC acquired a new stake in Patterson Companies in the 2nd quarter worth approximately $261,000. Finally, Headlands Technologies LLC boosted its position in Patterson Companies by 89.6% during the second quarter. Headlands Technologies LLC now owns 5,607 shares of the company's stock worth $135,000 after purchasing an additional 2,649 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction on Monday, December 9th. The shares were 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 owns 222,736 shares of the company's stock, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by company insiders.

Patterson Companies Price Performance

Shares of Patterson Companies stock traded down $0.03 during trading on Thursday, hitting $30.85. 1,382,235 shares of the company's stock traded hands, compared to its average volume of 1,619,087. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month 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. The company has a market cap of $2.72 billion, a PE ratio of 18.04, a PEG ratio of 2.70 and a beta of 0.89. The firm's fifty day moving average price is $25.51 and its 200 day moving average price is $23.85.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business earned $0.50 earnings per share. The company's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts forecast that Patterson Companies, Inc. will post 2.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PDCO shares. Stifel Nicolaus reduced their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Thursday, December 5th. Robert W. Baird upped their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. StockNews.com began coverage on Patterson Companies in a research note on Monday. They issued a "hold" rating on the stock. Morgan Stanley increased their target price 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, Evercore ISI dropped their price target on Patterson Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 8th. Eleven investment 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, Patterson Companies presently has an average rating of "Hold" and an average price target 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.