Anchor Investment Management LLC Grows Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Anchor Investment Management LLC increased its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 20.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,350 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Anchor Investment Management LLC’s holdings in Patterson Companies were worth $51,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new position in Patterson Companies during the 2nd quarter valued at about $41,000. Meeder Asset Management Inc. acquired a new position in shares of Patterson Companies in the second quarter worth $45,000. International Assets Investment Management LLC lifted its position in shares of Patterson Companies by 2,084.0% in the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after acquiring an additional 2,084 shares in the last quarter. KBC Group NV boosted its stake 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 valued at $60,000 after acquiring an additional 680 shares during the last quarter. Finally, Chris Bulman Inc purchased a new position in Patterson Companies in the 2nd quarter valued at about $71,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $30.82 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The company’s fifty day moving average price is $24.73 and its two-hundred day moving average price is $23.68. The firm has a market capitalization of $2.72 billion, a P/E ratio of 18.02, a P/E/G ratio of 2.70 and a beta of 1.00. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Patterson Companies, Inc. will post 2.26 earnings per share for the current fiscal 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 on Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the sale, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. This 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 at the SEC website. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PDCO. Stifel Nicolaus decreased their target price on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, December 5th. Piper Sandler reduced their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Leerink Partners reiterated a “market perform” rating and set a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Finally, Morgan Stanley lifted their target price on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.57.

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.