Private Management Group Inc. Cuts Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Private Management Group Inc. lessened its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,369,027 shares of the company's stock after selling 146,228 shares during the period. Patterson Companies makes up about 1.5% of Private Management Group Inc.'s portfolio, making the stock its 10th largest holding. Private Management Group Inc. owned approximately 1.55% of Patterson Companies worth $42,248,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Choreo LLC bought a new stake in Patterson Companies during the fourth quarter worth $257,000. Spire Wealth Management raised its holdings 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 in the last quarter. Tritonpoint Wealth LLC bought a new stake in shares of Patterson Companies during the 4th quarter worth $264,000. New Wave Wealth Advisors LLC acquired a new stake in Patterson Companies in the fourth quarter valued at about $152,000. Finally, EMC Capital Management grew its position in Patterson Companies by 600.7% in the fourth quarter. EMC Capital Management now owns 16,053 shares of the company's stock valued at $495,000 after acquiring an additional 13,762 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stifel Nicolaus dropped their target price on shares of 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 objective on shares of Patterson Companies from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, December 6th. Leerink Partners reaffirmed a "market perform" rating and set a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Leerink Partnrs lowered Patterson Companies from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley upped their target price on Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $26.57.

Patterson Companies Trading Down 0.1 %

Shares of PDCO stock traded down $0.03 on Friday, hitting $31.00. The company had a trading volume of 1,349,925 shares, compared to its average volume of 1,382,452. The stock's 50-day moving average is $29.74 and its two-hundred day moving average is $24.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The firm has a market cap of $2.74 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.70 and a beta of 0.90. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last released its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). The firm 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%. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. On average, equities research analysts anticipate that Patterson Companies, Inc. will post 2.25 earnings per share for the current fiscal year.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by company insiders.

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.