Patterson Companies, Inc. (NASDAQ:PDCO) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc raised its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 26.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 22,200 shares of the company’s stock after acquiring an additional 4,600 shares during the quarter. TD Asset Management Inc’s holdings in Patterson Companies were worth $535,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Miller Howard Investments Inc. NY lifted its position in shares of Patterson Companies by 2.3% in the second quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock valued at $471,000 after acquiring an additional 442 shares in the last quarter. Ariel Investments LLC lifted its holdings in Patterson Companies by 7.0% in the 1st quarter. Ariel Investments LLC now owns 8,976 shares of the company’s stock valued at $248,000 after purchasing an additional 586 shares in the last quarter. US Bancorp DE boosted its stake in Patterson Companies by 2.1% during the 4th quarter. US Bancorp DE now owns 29,863 shares of the company’s stock worth $850,000 after purchasing an additional 610 shares during the last quarter. LRI Investments LLC grew its holdings in shares of Patterson Companies by 201.2% during the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after buying an additional 843 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Patterson Companies by 15.0% in the first quarter. Covestor Ltd now owns 7,584 shares of the company’s stock valued at $210,000 after buying an additional 988 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Price Performance

Shares of PDCO opened at $21.87 on Monday. The firm has a 50-day simple moving average of $24.00 and a two-hundred day simple moving average of $24.96. The stock has a market cap of $1.92 billion, a PE ratio of 10.94, a P/E/G ratio of 1.51 and a beta of 1.02. Patterson Companies, Inc. has a 1-year low of $19.96 and a 1-year high of $32.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PDCO. Bank of America dropped their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Morgan Stanley reduced their price objective on 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. Robert W. Baird dropped their target price on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. reduced their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, UBS Group dropped their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.40.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 7,216 shares of Patterson Companies stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total value of $180,327.84. Following the completion of the transaction, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at approximately $5,749,499.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Patterson Companies news, CEO Donald Zurbay sold 7,216 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total value of $180,327.84. Following the completion of the transaction, the chief executive officer now owns 230,072 shares of the company’s stock, valued at approximately $5,749,499.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Michael Barry sold 1,216 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.72, for a total value of $28,843.52. Following the sale, the chief financial officer now directly owns 41,605 shares in the company, valued at approximately $986,870.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,149 shares of company stock worth $415,851. 1.50% of the stock is currently 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.