Nordea Investment Management AB Has $17.68 Million Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Nordea Investment Management AB reduced its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 64.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 572,842 shares of the company’s stock after selling 1,041,211 shares during the quarter. Nordea Investment Management AB owned approximately 0.65% of Patterson Companies worth $17,678,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PDCO. Canada Pension Plan Investment Board purchased a new stake in Patterson Companies in the 2nd quarter worth approximately $41,000. GAMMA Investing LLC boosted its position in Patterson Companies by 103.0% during the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after purchasing an additional 680 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Patterson Companies in the second quarter valued at about $45,000. International Assets Investment Management LLC increased its position in Patterson Companies by 2,084.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after purchasing an additional 2,084 shares during the last quarter. Finally, Anchor Investment Management LLC raised its stake in shares of Patterson Companies by 20.5% during the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after purchasing an additional 400 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Stifel Nicolaus lowered their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Robert W. Baird boosted their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Leerink Partners reaffirmed a “market perform” rating and issued a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Morgan Stanley increased their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Mizuho started coverage on Patterson Companies in a research note on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Patterson Companies has an average rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Stock Performance

Shares of NASDAQ PDCO opened at $30.85 on Thursday. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79. The company has a market cap of $2.72 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.70 and a beta of 0.89. The business’s 50 day moving average is $25.31 and its two-hundred day moving average is $23.80. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $0.50 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts expect that Patterson Companies, Inc. will post 2.26 EPS for the current year.

Insider Activity

In related news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at approximately $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by company 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.