Stifel Financial Corp Buys 1,789 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Stifel Financial Corp boosted its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,825 shares of the company’s stock after buying an additional 1,789 shares during the period. Stifel Financial Corp’s holdings in Patterson Companies were worth $673,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PDCO. Canada Pension Plan Investment Board acquired a new position in Patterson Companies during the second quarter worth $41,000. Meeder Asset Management Inc. bought a new stake in shares of Patterson Companies during the second quarter worth about $45,000. International Assets Investment Management LLC raised its holdings in shares of Patterson Companies by 2,084.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after acquiring an additional 2,084 shares during the last quarter. Innealta Capital LLC bought a new position in Patterson Companies in the 2nd quarter valued at about $66,000. Finally, KBC Group NV boosted its stake in Patterson Companies by 32.7% during the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after purchasing an additional 680 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird increased their price target on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. UBS Group dropped their price objective on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Piper Sandler reduced their target price on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Finally, StockNews.com assumed coverage on shares of Patterson Companies in a report on Saturday, December 21st. They issued a “hold” rating for the company. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $30.90 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The company has a market capitalization of $2.73 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00. Patterson Companies, Inc. has a 52-week low of $19.45 and a 52-week high of $31.79. The company has a 50-day simple moving average of $23.19 and a 200 day simple moving average of $23.25.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results 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). 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 analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts predict that Patterson Companies, Inc. will post 2.26 EPS for the current year.

Insider Buying and Selling at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the transaction, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.90% 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.