Barclays PLC Boosts Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Barclays PLC grew its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 37.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 165,715 shares of the company’s stock after acquiring an additional 44,906 shares during the quarter. Barclays PLC’s holdings in Patterson Companies were worth $3,619,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. LRI Investments LLC increased its position in Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after purchasing an additional 843 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Patterson Companies during the second quarter worth about $41,000. Meeder Asset Management Inc. acquired a new position in shares of Patterson Companies in the second quarter valued at approximately $45,000. International Assets Investment Management LLC lifted its stake in shares of Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after buying an additional 2,084 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Patterson Companies during the second quarter worth approximately $66,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PDCO has been the subject of several analyst reports. Leerink Partners reiterated a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Mizuho began coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price on the stock. StockNews.com initiated coverage on Patterson Companies in a report on Saturday. They issued a “hold” rating for the company. UBS Group cut their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Stifel Nicolaus lowered their target price on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Stock Down 0.2 %

Shares of Patterson Companies stock opened at $30.86 on Monday. The company has a fifty day moving average price of $22.79 and a 200 day moving average price of $23.15. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.47 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 for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the firm posted $0.50 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Equities research analysts forecast that Patterson Companies, Inc. will post 2.26 earnings per share for the current fiscal year.

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.