State Street Corp Has $70.45 Million Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

State Street Corp reduced its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,225,558 shares of the company’s stock after selling 2,059 shares during the period. State Street Corp’s holdings in Patterson Companies were worth $70,446,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. LRI Investments LLC boosted its stake in shares of Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after buying an additional 843 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Patterson Companies in the second quarter worth $41,000. Family Firm Inc. bought a new stake in shares of Patterson Companies during the 2nd quarter worth $45,000. Meeder Asset Management Inc. bought a new position in Patterson Companies in the 2nd quarter worth $45,000. Finally, International Assets Investment Management LLC lifted its position in Patterson Companies by 2,084.0% during the 3rd 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 last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PDCO has been the topic of several research analyst reports. Piper Sandler lowered 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. Leerink Partners reaffirmed a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Stifel Nicolaus reduced their price objective on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Evercore ISI dropped their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. Finally, Robert W. Baird increased their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.57.

Insider Transactions at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the business’s 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 approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by insiders.

Patterson Companies Trading Down 0.4 %

Shares of PDCO stock opened at $30.90 on Wednesday. The firm has a fifty day moving average of $22.15 and a 200-day moving average of $23.01. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.70 and a beta of 1.00. Patterson Companies, Inc. has a 52-week low of $19.45 and a 52-week high of $31.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. On average, equities research analysts forecast that Patterson Companies, Inc. will post 2.26 earnings per share for the current fiscal year.

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.