Patterson Companies, Inc. (NASDAQ:PDCO) Stock Holdings Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,105 shares of the company’s stock after selling 1,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Patterson Companies were worth $806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after purchasing an additional 680 shares in the last quarter. 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 purchasing an additional 2,084 shares in the last quarter. Anchor Investment Management LLC raised its holdings in shares of Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after purchasing an additional 400 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Patterson Companies by 18.0% in the 4th quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock worth $84,000 after purchasing an additional 417 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Patterson Companies by 32.7% in the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after purchasing an additional 680 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Morgan Stanley boosted 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. Mizuho assumed coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target on the stock. Piper Sandler cut their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Finally, Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.57.

Insider Activity at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the sale, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Patterson Companies Stock Performance

PDCO stock opened at $31.14 on Tuesday. The business has a fifty day moving average price of $30.96 and a 200 day moving average price of $25.51. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 2.71 and a beta of 0.90. 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 (NASDAQ:PDCO) last released 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 net margin of 2.37% and a return on equity of 19.77%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that Patterson Companies, Inc. will post 2.25 EPS 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.