Quest Partners LLC Purchases 5,505 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Quest Partners LLC boosted its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 15,728.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,540 shares of the company’s stock after acquiring an additional 5,505 shares during the period. Quest Partners LLC’s holdings in Patterson Companies were worth $134,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund purchased a new position in shares of Patterson Companies in the first quarter valued at $1,339,000. Norges Bank purchased a new position in shares of Patterson Companies during the fourth quarter worth about $26,162,000. Sound Income Strategies LLC raised its stake in Patterson Companies by 10.3% in the first quarter. Sound Income Strategies LLC now owns 619,529 shares of the company’s stock valued at $17,130,000 after purchasing an additional 58,084 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in Patterson Companies during the first quarter valued at approximately $535,000. Finally, Russell Investments Group Ltd. grew its stake in Patterson Companies by 1,802.5% in the 1st quarter. Russell Investments Group Ltd. now owns 67,615 shares of the company’s stock worth $1,870,000 after buying an additional 64,061 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Donald Zurbay sold 5,875 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total value of $139,296.25. Following the completion of the transaction, the chief executive officer now directly owns 237,288 shares of the company’s stock, valued at $5,626,098.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Patterson Companies news, CEO Donald Zurbay sold 5,875 shares of Patterson Companies stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $139,296.25. Following the sale, the chief executive officer now directly owns 237,288 shares of the company’s stock, valued at approximately $5,626,098.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Les B. Korsh sold 2,842 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the transaction, the insider now directly owns 103,765 shares of the company’s stock, valued at approximately $2,460,268.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,149 shares of company stock valued at $415,851. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on PDCO shares. StockNews.com lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Morgan Stanley cut their price objective on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, June 20th. Robert W. Baird decreased their price objective on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Bank of America cut their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, UBS Group reduced their price objective on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Patterson Companies has a consensus rating of “Hold” and an average target price of $28.40.

Patterson Companies Trading Down 0.6 %

NASDAQ PDCO opened at $21.74 on Tuesday. The stock has a market cap of $1.92 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02. Patterson Companies, Inc. has a fifty-two week low of $19.96 and a fifty-two week high of $32.58. The stock has a 50 day simple moving average of $23.96 and a two-hundred day simple moving average of $24.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. On average, analysts forecast that Patterson Companies, Inc. will post 2.33 earnings per share for the current 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.