Principal Financial Group Inc. Raises Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Principal Financial Group Inc. raised its holdings in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 380,958 shares of the company's stock after acquiring an additional 10,756 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of Patterson Companies worth $11,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Patterson Companies by 31.5% during the third quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company's stock worth $726,000 after buying an additional 7,969 shares in the last quarter. Equity Investment Corp raised its holdings in shares of Patterson Companies by 10.6% during the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company's stock worth $37,994,000 after acquiring an additional 166,899 shares during the period. Goodman Financial Corp boosted its position in shares of Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company's stock valued at $11,865,000 after acquiring an additional 86,972 shares during the last quarter. Mork Capital Management LLC grew its holdings in shares of Patterson Companies by 142.9% in the third quarter. Mork Capital Management LLC now owns 84,980 shares of the company's stock valued at $1,856,000 after purchasing an additional 50,000 shares during the period. Finally, Barclays PLC increased its position in Patterson Companies by 37.2% during the third quarter. Barclays PLC now owns 165,715 shares of the company's stock worth $3,619,000 after purchasing an additional 44,906 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

Patterson Companies Trading Up 0.0 %

NASDAQ:PDCO traded up $0.01 on Monday, reaching $31.15. 613,571 shares of the company's stock were exchanged, compared to its average volume of 999,572. The business has a fifty day moving average of $30.95 and a 200-day moving average of $25.46. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a 52-week low of $19.45 and a 52-week high of $31.79. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last posted its quarterly 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 business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. As a group, analysts expect that Patterson Companies, Inc. will post 2.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on PDCO shares. Leerink Partners reiterated a "market perform" rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Stifel Nicolaus decreased their price objective on Patterson Companies from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Thursday, December 5th. Robert W. Baird raised their target price on Patterson Companies from $25.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Mizuho initiated coverage on Patterson Companies in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $23.00 price target on the stock. Finally, Leerink Partnrs cut Patterson Companies from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.57.

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.