Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 369,593 shares of the company’s stock after selling 21,745 shares during the quarter. Victory Capital Management Inc. owned about 0.42% of Patterson Companies worth $8,915,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PDCO. Nicholas Hoffman & Company LLC. acquired a new stake in shares of Patterson Companies during the 2nd quarter worth approximately $335,000. TD Asset Management Inc grew its position in Patterson Companies by 26.1% in the second quarter. TD Asset Management Inc now owns 22,200 shares of the company’s stock worth $535,000 after acquiring an additional 4,600 shares during the period. Versor Investments LP acquired a new stake in Patterson Companies during the second quarter worth $207,000. nVerses Capital LLC purchased a new stake in Patterson Companies in the second quarter valued at $116,000. Finally, Nicola Wealth Management LTD. lifted its stake in shares of Patterson Companies by 26.0% in the 2nd 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. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

PDCO has been the topic of several research analyst reports. Evercore ISI reduced their price objective 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. JPMorgan Chase & Co. decreased their price objective 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 dropped their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Morgan Stanley decreased their price target on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. Finally, StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.40.

Patterson Companies Stock Up 3.7 %

PDCO stock opened at $21.87 on Monday. Patterson Companies, Inc. has a fifty-two week low of $19.96 and a fifty-two week high of $32.58. The company’s 50 day moving average price is $24.00 and its 200 day moving average price is $24.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. The firm 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.

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

Insider Activity at Patterson Companies

In other news, insider Les B. Korsh sold 2,842 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $67,383.82. Following the completion of the sale, the insider now owns 103,765 shares in the company, valued at approximately $2,460,268.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Les B. Korsh sold 2,842 shares of Patterson Companies stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $67,383.82. Following the sale, the insider now owns 103,765 shares in the company, valued at $2,460,268.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The disclosure for this sale can be found here. Insiders sold 17,149 shares of company stock valued at $415,851 over the last three months. 1.50% of the stock is owned by corporate insiders.

Patterson Companies 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.