Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,888,018 shares of the company’s stock after selling 23,057 shares during the quarter. Geode Capital Management LLC owned approximately 2.14% of Patterson Companies worth $41,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Patterson Companies by 37.2% during the 3rd quarter. Barclays PLC now owns 165,715 shares of the company’s stock valued at $3,619,000 after acquiring an additional 44,906 shares during the period. Stifel Financial Corp grew its holdings in Patterson Companies by 6.2% in the third quarter. Stifel Financial Corp now owns 30,825 shares of the company’s stock valued at $673,000 after purchasing an additional 1,789 shares during the period. Petrus Trust Company LTA increased its position in shares of Patterson Companies by 186.9% in the third quarter. Petrus Trust Company LTA now owns 30,241 shares of the company’s stock valued at $660,000 after buying an additional 19,701 shares in the last quarter. Mork Capital Management LLC raised its stake 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 worth $1,856,000 after buying an additional 50,000 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Patterson Companies during the 3rd quarter valued at approximately $11,183,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction 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 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 filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PDCO. Stifel Nicolaus reduced their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Mizuho began coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target on the stock. Leerink Partners reissued a “market perform” rating and set a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Morgan Stanley lifted their price target on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird increased their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Trading Up 0.1 %

Shares of PDCO stock opened at $30.90 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79. The company’s 50-day moving average price is $22.99 and its 200-day moving average price is $23.20. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.70 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, equities analysts predict that Patterson Companies, Inc. will post 2.26 earnings per share for the current 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.