Sanctuary Advisors LLC Purchases 9,015 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Sanctuary Advisors LLC increased its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 54.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 25,670 shares of the company’s stock after purchasing an additional 9,015 shares during the period. Sanctuary Advisors LLC’s holdings in Patterson Companies were worth $525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PDCO. BNP Paribas Financial Markets increased its position in shares of Patterson Companies by 31.5% in the third quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock valued at $726,000 after acquiring an additional 7,969 shares during the period. Equity Investment Corp increased its holdings in Patterson Companies by 10.6% during the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after purchasing an additional 166,899 shares during the period. Seven Eight Capital LP raised its position in Patterson Companies by 177.7% during the 2nd quarter. Seven Eight Capital LP now owns 73,504 shares of the company’s stock valued at $1,773,000 after purchasing an additional 47,032 shares during the last quarter. Goodman Financial Corp raised its position in Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock valued at $11,865,000 after purchasing an additional 86,972 shares during the last quarter. Finally, Mork Capital Management LLC lifted its holdings in Patterson Companies by 142.9% in the 3rd quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock worth $1,856,000 after buying an additional 50,000 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Stock Up 0.1 %

Shares of NASDAQ:PDCO opened at $30.90 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $23.19 and a two-hundred day simple moving average of $23.25. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $31.79. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.70 and a beta of 1.00.

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). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the firm earned $0.50 EPS. Patterson Companies’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Patterson Companies, Inc. will post 2.26 earnings per share for the current fiscal year.

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the sale, the chief executive officer now owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

PDCO has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Mizuho began coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price objective for the company. Evercore ISI cut 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 note on Tuesday, October 8th. Piper Sandler decreased their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Finally, Bank of America reduced their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. 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 currently has a consensus rating of “Hold” and a consensus price target of $26.57.

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.