Van ECK Associates Corp Has $1.82 Million Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Van ECK Associates Corp lessened its position in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 18.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 59,022 shares of the company's stock after selling 13,695 shares during the period. Van ECK Associates Corp owned approximately 0.07% of Patterson Companies worth $1,821,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in Patterson Companies by 19.6% during the third quarter. Raymond James & Associates now owns 244,748 shares of the company's stock worth $5,345,000 after acquiring an additional 40,125 shares during the period. International Assets Investment Management LLC lifted its holdings in 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 during the period. Allworth Financial LP lifted its holdings in Patterson Companies by 12.8% during the third quarter. Allworth Financial LP now owns 9,665 shares of the company's stock worth $211,000 after acquiring an additional 1,098 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Patterson Companies by 43.7% during the third quarter. Nisa Investment Advisors LLC now owns 31,358 shares of the company's stock worth $685,000 after acquiring an additional 9,529 shares during the period. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in Patterson Companies by 55.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 21,593 shares of the company's stock worth $472,000 after acquiring an additional 7,688 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

Wall Street Analyst Weigh In

PDCO has been the topic of several research reports. Morgan Stanley boosted 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. Leerink Partnrs lowered Patterson Companies from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. StockNews.com initiated coverage on Patterson Companies in a research note on Saturday, February 15th. They issued a "hold" rating on the stock. Piper Sandler lowered their target price on Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, December 6th. Finally, Mizuho initiated coverage on Patterson Companies in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $23.00 target price on the stock. 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 stock presently has a consensus rating of "Hold" and an average target price of $26.57.

Insider Activity

In related 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 value of $45,282.96. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company's stock.

Patterson Companies Stock Performance

Shares of PDCO opened at $31.07 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $31.79. The firm has a market capitalization of $2.74 billion, a P/E ratio of 18.17, a PEG ratio of 2.70 and a beta of 0.90. The business has a fifty day moving average of $30.93 and a 200 day moving average of $25.15.

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 the consensus estimate of $0.49 by ($0.02). The company had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. Patterson Companies's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, sell-side analysts anticipate that Patterson Companies, Inc. will post 2.25 EPS for the current year.

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.

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