JPMorgan Chase & Co. Lowers Position in Patterson Companies, Inc. (NASDAQ:PDCO)

JPMorgan Chase & Co. decreased its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 432,155 shares of the company’s stock after selling 59,624 shares during the period. JPMorgan Chase & Co. owned 0.49% of Patterson Companies worth $9,438,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. TD Asset Management Inc increased its position in Patterson Companies by 26.1% during the 2nd quarter. TD Asset Management Inc now owns 22,200 shares of the company’s stock worth $535,000 after purchasing an additional 4,600 shares in the last quarter. Quest Partners LLC increased its position in shares of Patterson Companies by 15,728.6% in the second quarter. Quest Partners LLC now owns 5,540 shares of the company’s stock worth $134,000 after acquiring an additional 5,505 shares in the last quarter. Choreo LLC purchased a new position in Patterson Companies in the second quarter valued at about $261,000. American Century Companies Inc. raised its holdings in shares of Patterson Companies by 83.6% during the 2nd quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock valued at $21,775,000 after buying an additional 411,012 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Patterson Companies during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analyst Ratings Changes

PDCO has been the subject of a number of analyst reports. Mizuho initiated coverage on Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target for the company. Evercore ISI decreased their price target on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, StockNews.com started coverage on Patterson Companies in a report on Tuesday. They issued a “hold” rating for the company. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.57.

Insider Transactions at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the company’s 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by insiders.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $30.84 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The stock’s 50-day moving average is $25.90 and its two-hundred day moving average is $23.94. The firm has a market cap of $2.72 billion, a P/E ratio of 18.04, a PEG ratio of 2.70 and a beta of 0.89.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. Analysts predict that Patterson Companies, Inc. will post 2.26 earnings per share for the current fiscal year.

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.