Sanctuary Advisors LLC Trims Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Sanctuary Advisors LLC reduced its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 66.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,586 shares of the company’s stock after selling 17,084 shares during the period. Sanctuary Advisors LLC’s holdings in Patterson Companies were worth $266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PDCO. BNP Paribas Financial Markets increased its position in Patterson Companies by 31.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock valued at $726,000 after acquiring an additional 7,969 shares during the period. Equity Investment Corp increased its position in Patterson Companies by 10.6% during the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after purchasing an additional 166,899 shares during the period. Goodman Financial Corp increased its position in Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after purchasing an additional 86,972 shares during the period. Mork Capital Management LLC increased its position in Patterson Companies by 142.9% during the 3rd quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock worth $1,856,000 after purchasing an additional 50,000 shares during the period. Finally, Barclays PLC increased its position in Patterson Companies by 37.2% during 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 period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the 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 transaction, the chief executive officer now owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PDCO. Robert W. Baird boosted their target price on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Mizuho initiated coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price on the stock. StockNews.com initiated coverage on Patterson Companies in a research note on Monday. They set a “hold” rating on the stock. Leerink Partners reissued a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Finally, Piper Sandler decreased their price target on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Price Performance

PDCO stock opened at $31.13 on Wednesday. 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 quick ratio of 0.76 and a current ratio of 1.37. The stock’s 50 day moving average price is $30.96 and its 200 day moving average price is $25.55. The firm has a market cap of $2.75 billion, a P/E ratio of 18.20, a PEG ratio of 2.71 and a beta of 0.90.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (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 company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company posted $0.50 EPS. Patterson Companies’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect 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.