New York State Teachers Retirement System Lowers Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

New York State Teachers Retirement System trimmed its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,883 shares of the company’s stock after selling 10,600 shares during the quarter. New York State Teachers Retirement System owned approximately 0.15% of Patterson Companies worth $4,224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PDCO. BNP Paribas Financial Markets raised its stake in shares of Patterson Companies by 31.5% during the third quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock worth $726,000 after acquiring an additional 7,969 shares in the last quarter. Equity Investment Corp boosted its holdings in Patterson Companies by 10.6% in the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after acquiring an additional 166,899 shares in the last quarter. Goodman Financial Corp boosted its holdings in shares of Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock valued at $11,865,000 after buying an additional 86,972 shares in the last quarter. Mork Capital Management LLC boosted its holdings in shares of Patterson Companies by 142.9% during the 3rd quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock valued at $1,856,000 after buying an additional 50,000 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Patterson Companies by 37.2% in the 3rd quarter. Barclays PLC now owns 165,715 shares of the company’s stock worth $3,619,000 after purchasing an additional 44,906 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com started coverage on shares of Patterson Companies in a research note on Saturday, February 15th. They issued a “hold” rating on the stock. Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Piper Sandler cut their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Robert W. Baird increased their target price on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Leerink Partners restated a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Price Performance

PDCO opened at $31.06 on Friday. The business’s 50-day moving average is $30.93 and its two-hundred day moving average is $25.11. Patterson Companies, Inc. has a 1 year low of $19.45 and a 1 year high of $31.79. 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 firm has a market capitalization of $2.74 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business 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 firm posted $0.50 EPS. Patterson Companies’s revenue was up 1.0% on a year-over-year basis. Research analysts anticipate that Patterson Companies, Inc. will post 2.25 earnings per share for the current fiscal year.

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.