Rhumbline Advisers Has $6.37 Million Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Rhumbline Advisers cut its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 263,912 shares of the company’s stock after selling 12,081 shares during the period. Rhumbline Advisers owned approximately 0.30% of Patterson Companies worth $6,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY boosted its stake in shares of 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 buying an additional 442 shares during the last quarter. Ariel Investments LLC lifted its stake in Patterson Companies by 7.0% in the 1st quarter. Ariel Investments LLC now owns 8,976 shares of the company’s stock valued at $248,000 after purchasing an additional 586 shares during the last quarter. US Bancorp DE lifted its stake in Patterson Companies by 2.1% in the 4th quarter. US Bancorp DE now owns 29,863 shares of the company’s stock valued at $850,000 after purchasing an additional 610 shares during the last quarter. LRI Investments LLC lifted its stake in 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, Covestor Ltd lifted its stake in Patterson Companies by 15.0% in the 1st quarter. Covestor Ltd now owns 7,584 shares of the company’s stock valued at $210,000 after purchasing an additional 988 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Patterson Companies

In other news, insider Les B. Korsh sold 2,842 shares of Patterson Companies stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $67,383.82. Following the transaction, the insider now owns 103,765 shares in the company, valued at $2,460,268.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Les B. Korsh sold 2,842 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 $67,383.82. Following the transaction, the insider now owns 103,765 shares in the company, valued at approximately $2,460,268.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Donald Zurbay sold 7,216 shares of Patterson Companies stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total transaction of $180,327.84. Following the completion of the sale, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,149 shares of company stock worth $415,851. Company insiders own 1.50% of the company’s stock.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $21.87 on Friday. Patterson Companies, Inc. has a fifty-two week low of $19.96 and a fifty-two week high of $32.58. 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 firm has a market capitalization of $1.92 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.51 and a beta of 1.02. The company’s 50 day moving average price is $24.00 and its two-hundred day moving average price is $24.97.

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). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts forecast that Patterson Companies, Inc. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PDCO. Evercore ISI lowered their price target on shares of Patterson Companies from $25.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday, August 29th. StockNews.com cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. UBS Group lowered their price target 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. Bank of America lowered their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Morgan Stanley lowered their target price on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, June 20th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Patterson Companies presently has a consensus rating of “Hold” and a consensus price target of $28.40.

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.