Fmr LLC Reduces Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Fmr LLC lowered its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 49.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,334 shares of the company’s stock after selling 22,285 shares during the period. Fmr LLC’s holdings in Patterson Companies were worth $488,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. LRI Investments LLC boosted its stake in shares of Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after buying an additional 843 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Patterson Companies in the second quarter valued at $41,000. Family Firm Inc. bought a new position in Patterson Companies during the 2nd quarter valued at $45,000. Meeder Asset Management Inc. bought a new position in Patterson Companies during the 2nd quarter valued at $45,000. Finally, International Assets Investment Management LLC grew its holdings in Patterson Companies by 2,084.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after acquiring an additional 2,084 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Activity at Patterson Companies

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

Patterson Companies Stock Down 0.1 %

PDCO stock opened at $30.87 on Thursday. The stock has a market cap of $2.73 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00. The firm’s 50-day simple moving average is $22.37 and its 200 day simple moving average is $23.07. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Patterson Companies, Inc. will post 2.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho started coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price on the stock. UBS Group reduced their target price on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Stifel Nicolaus lowered their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Robert W. Baird upped their price target 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, JPMorgan Chase & Co. lowered their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.57.

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.