Wilmington Savings Fund Society FSB Buys New Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Wilmington Savings Fund Society FSB acquired a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the 3rd quarter, HoldingsChannel reports. The fund acquired 2,959 shares of the company’s stock, valued at approximately $65,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Miller Howard Investments Inc. NY raised its stake in Patterson Companies by 2.3% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock worth $471,000 after acquiring an additional 442 shares in the last quarter. KBC Group NV grew its holdings in shares of Patterson Companies by 32.7% during the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after purchasing an additional 680 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Patterson Companies by 6.2% during the second quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock worth $341,000 after purchasing an additional 828 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares during the last quarter. Finally, Bfsg LLC boosted its position in shares of Patterson Companies by 8.2% in the 3rd quarter. Bfsg LLC now owns 12,250 shares of the company’s stock valued at $268,000 after purchasing an additional 925 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group reduced their price objective on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Morgan Stanley upped their price objective on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Robert W. Baird lifted their target price on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, Leerink Partners reiterated a “market perform” rating and issued a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Trading Down 0.2 %

Shares of PDCO opened at $30.86 on Friday. The firm’s 50-day moving average is $22.79 and its two-hundred day moving average is $23.15. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79. 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 firm has a market capitalization of $2.73 billion, a P/E ratio of 18.05, a PEG ratio of 2.70 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data 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 firm had revenue of $1.67 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. On average, research analysts predict that Patterson Companies, Inc. will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were 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 owns 222,736 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

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.