Patterson Companies, Inc. (NASDAQ:PDCO) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC increased its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 89.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,607 shares of the company’s stock after purchasing an additional 2,649 shares during the quarter. Headlands Technologies LLC’s holdings in Patterson Companies were worth $135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC raised its position in Patterson Companies by 201.2% during the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after acquiring an additional 843 shares in the last quarter. Spire Wealth Management purchased a new position in Patterson Companies during the first quarter valued at approximately $35,000. Mather Group LLC. raised its position in Patterson Companies by 1,376.1% during the second quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after acquiring an additional 1,500 shares in the last quarter. Family Firm Inc. purchased a new position in Patterson Companies during the second quarter valued at approximately $45,000. Finally, Innealta Capital LLC purchased a new position in Patterson Companies during the second quarter valued at approximately $66,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

PDCO has been the subject of several recent research reports. UBS Group reduced their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. StockNews.com cut Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Evercore ISI cut their price objective on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a research report on Thursday, August 29th. Bank of America cut their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. dropped their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.40.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $21.87 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The business has a 50 day moving average price of $24.00 and a 200 day moving average price of $24.97. The company has a market capitalization of $1.92 billion, a P/E ratio of 10.94, a PEG 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.

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

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 5,875 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $139,296.25. Following the sale, the chief executive officer now owns 237,288 shares of the company’s stock, valued at $5,626,098.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Kevin Michael Barry sold 1,216 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.72, for a total transaction of $28,843.52. Following the sale, the chief financial officer now directly owns 41,605 shares in the company, valued at $986,870.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Donald Zurbay sold 5,875 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $139,296.25. Following the completion of the sale, the chief executive officer now owns 237,288 shares in the company, valued at approximately $5,626,098.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,149 shares of company stock worth $415,851. Company insiders own 1.50% of the company’s stock.

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.