Sanctuary Advisors LLC Cuts Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Sanctuary Advisors LLC cut its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 66.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,586 shares of the company's stock after selling 17,084 shares during the period. Sanctuary Advisors LLC's holdings in Patterson Companies were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

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

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Insider Transactions at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the sale, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company's stock.

Patterson Companies Stock Performance

Shares of PDCO stock traded up $0.01 during mid-day trading on Friday, reaching $31.13. The stock had a trading volume of 1,054,356 shares, compared to its average volume of 1,008,496. The business's fifty day moving average is $30.98 and its 200-day moving average is $25.67. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.71 and a beta of 0.99. 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 results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company posted $0.50 EPS. Patterson Companies's quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts forecast that Patterson Companies, Inc. will post 2.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho assumed coverage on Patterson Companies in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $23.00 price target for the company. StockNews.com initiated coverage on shares of Patterson Companies in a report on Monday, March 3rd. They issued a "hold" rating for the company. Morgan Stanley boosted their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Robert W. Baird boosted their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Finally, Piper Sandler reduced their price target on Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Patterson Companies presently has a consensus rating of "Hold" and a consensus 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.