Meeder Asset Management Inc. Makes New $45,000 Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Meeder Asset Management Inc. purchased a new position in Patterson Companies, Inc. (NASDAQ:PDCO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,865 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund acquired a new stake in Patterson Companies in the first quarter worth about $1,339,000. Norges Bank acquired a new stake in shares of Patterson Companies during the fourth quarter worth about $26,162,000. Sound Income Strategies LLC lifted its holdings in shares of Patterson Companies by 10.3% during the first quarter. Sound Income Strategies LLC now owns 619,529 shares of the company’s stock worth $17,130,000 after purchasing an additional 58,084 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of Patterson Companies during the first quarter worth about $535,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Patterson Companies by 1,802.5% during the first quarter. Russell Investments Group Ltd. now owns 67,615 shares of the company’s stock worth $1,870,000 after purchasing an additional 64,061 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $21.87 on Monday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.51 and a beta of 1.02. The stock has a 50-day moving average of $24.00 and a 200 day moving average of $24.96. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a twelve month low of $19.96 and a twelve month high of $32.58.

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

Insider Activity

In other news, CEO Donald Zurbay sold 7,216 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total value of $180,327.84. Following the completion of the sale, the chief executive officer now directly owns 230,072 shares in the company, valued at $5,749,499.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $28,843.52. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO Donald Zurbay sold 7,216 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total value of $180,327.84. Following the completion of the sale, the chief executive officer now owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The disclosure for this sale can be found here. Insiders sold 17,149 shares of company stock worth $415,851 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America decreased their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Robert W. Baird decreased their target price on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Finally, Morgan Stanley decreased their target price on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, June 20th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Patterson Companies has an average rating of “Hold” and a consensus price target of $28.40.

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.