Cipher Capital LP reduced its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 22.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 50,931 shares of the company’s stock after selling 14,894 shares during the period. Cipher Capital LP owned 0.05% of Patterson Companies worth $1,968,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Patterson Companies by 6.3% during the first quarter. JPMorgan Chase & Co. now owns 20,059 shares of the company’s stock worth $907,000 after purchasing an additional 1,189 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Patterson Companies by 3.4% during the first quarter. Teachers Advisors LLC now owns 110,321 shares of the company’s stock worth $4,990,000 after purchasing an additional 3,651 shares in the last quarter. Morgan Stanley grew its holdings in shares of Patterson Companies by 5.4% during the first quarter. Morgan Stanley now owns 236,433 shares of the company’s stock worth $10,693,000 after purchasing an additional 12,172 shares in the last quarter. Bank of Montreal Can boosted its stake in Patterson Companies by 7.4% in the second quarter. Bank of Montreal Can now owns 37,044 shares of the company’s stock worth $1,740,000 after buying an additional 2,539 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Patterson Companies by 519.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 13,467 shares of the company’s stock worth $632,000 after buying an additional 11,292 shares in the last quarter. 93.36% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Ann B. Gugino sold 750 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total transaction of $27,547.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John D. Buck acquired 2,834 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were acquired at an average cost of $34.93 per share, for a total transaction of $98,991.62. Following the completion of the transaction, the director now directly owns 54,627 shares of the company’s stock, valued at $1,908,121.11. The disclosure for this purchase can be found here. Corporate insiders own 0.46% of the company’s stock.
Shares of Patterson Companies, Inc. (NASDAQ PDCO) traded up $0.40 during mid-day trading on Thursday, reaching $35.21. The company had a trading volume of 1,656,043 shares, compared to its average volume of 1,309,984. Patterson Companies, Inc. has a 12 month low of $32.07 and a 12 month high of $48.29. The stock has a market capitalization of $3,350.00, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.10 and a current ratio of 1.94.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $0.56 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. equities research analysts predict that Patterson Companies, Inc. will post 2.06 earnings per share for the current year.
Several analysts have issued reports on PDCO shares. TheStreet lowered Patterson Companies from a “b-” rating to a “c” rating in a research note on Thursday, August 24th. Stifel Nicolaus raised Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 target price for the company in a research note on Wednesday, November 15th. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Morgan Stanley assumed coverage on Patterson Companies in a research report on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 price objective for the company. Finally, Jefferies Group reiterated a “hold” rating and issued a $37.00 price objective on shares of Patterson Companies in a research report on Thursday, November 23rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.20.
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Patterson Companies Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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