Rhumbline Advisers Has $6.37 Million Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Rhumbline Advisers decreased its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 263,912 shares of the company’s stock after selling 12,081 shares during the quarter. Rhumbline Advisers’ holdings in Patterson Companies were worth $6,366,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Versor Investments LP bought a new position in Patterson Companies during the second quarter valued at about $207,000. nVerses Capital LLC purchased a new stake in Patterson Companies during the second quarter valued at about $116,000. Nicola Wealth Management LTD. lifted its holdings in Patterson Companies by 26.0% during the second quarter. Nicola Wealth Management LTD. now owns 130,800 shares of the company’s stock valued at $3,155,000 after purchasing an additional 27,000 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Patterson Companies by 1.8% during the second quarter. Van ECK Associates Corp now owns 65,132 shares of the company’s stock valued at $1,571,000 after purchasing an additional 1,178 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Patterson Companies in the second quarter worth about $66,000. Institutional investors own 85.43% of the company’s stock.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 5,875 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $139,296.25. Following the completion of the transaction, the chief executive officer now directly owns 237,288 shares in the company, valued at approximately $5,626,098.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Donald Zurbay sold 5,875 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $139,296.25. Following the completion of the transaction, the chief executive officer now directly owns 237,288 shares in the company, valued at approximately $5,626,098.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Les B. Korsh sold 2,842 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the sale, the insider now owns 103,765 shares of the company’s stock, valued at $2,460,268.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,149 shares of company stock worth $415,851. 1.50% of the stock is owned by company insiders.

Patterson Companies Price Performance

NASDAQ PDCO opened at $21.87 on Friday. Patterson Companies, Inc. has a one year low of $19.96 and a one year high of $32.58. The stock has a 50-day moving average of $24.00 and a 200 day moving average of $24.97. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. On average, sell-side analysts forecast that Patterson Companies, Inc. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PDCO shares. Evercore ISI lowered their price target on shares of Patterson Companies from $25.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday, August 29th. Morgan Stanley reduced their price target on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 20th. JPMorgan Chase & Co. cut their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Bank of America cut their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, UBS Group lowered their price objective on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $28.40.

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.