KBC Group NV Increases Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

KBC Group NV grew its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 62.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,477 shares of the company’s stock after acquiring an additional 1,720 shares during the quarter. KBC Group NV’s holdings in Patterson Companies were worth $138,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in shares of Patterson Companies during the 2nd quarter worth $429,000. Cubist Systematic Strategies LLC acquired a new position in Patterson Companies during the second quarter worth about $2,520,000. SG Americas Securities LLC grew its position in Patterson Companies by 104.1% during the third quarter. SG Americas Securities LLC now owns 31,465 shares of the company’s stock worth $687,000 after buying an additional 16,045 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Patterson Companies by 24.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 39,600 shares of the company’s stock worth $865,000 after acquiring an additional 7,700 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Patterson Companies by 44.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 35,244 shares of the company’s stock worth $770,000 after acquiring an additional 10,773 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction dated 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 $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 Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

Patterson Companies Price Performance

Shares of PDCO stock opened at $31.03 on Friday. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79. The company has a market capitalization of $2.74 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $29.36 and a 200-day simple moving average of $24.73.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data 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 firm 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 earned $0.50 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Patterson Companies, Inc. will post 2.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird increased their target price on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. StockNews.com began coverage on shares of Patterson Companies in a research note on Thursday, January 30th. They issued a “hold” rating for the company. Leerink Partners reiterated a “market perform” rating and set a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Finally, Piper Sandler dropped their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.57.

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.