Tredje AP fonden purchased a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,420 shares of the company’s stock, valued at approximately $254,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Patterson Companies by 27.8% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock worth $104,000 after buying an additional 500 shares during the period. Invictus RG purchased a new position in shares of Patterson Companies during the first quarter worth $119,000. Nordea Investment Management AB boosted its position in shares of Patterson Companies by 48.4% during the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock worth $169,000 after buying an additional 1,218 shares during the period. Palisade Asset Management LLC purchased a new position in shares of Patterson Companies during the second quarter worth $188,000. Finally, Moreno Evelyn V purchased a new position in shares of Patterson Companies during the second quarter worth $202,000. Institutional investors and hedge funds own 88.61% of the company’s stock.
Patterson Companies, Inc. (PDCO) opened at 38.53 on Friday. Patterson Companies, Inc. has a 12-month low of $35.93 and a 12-month high of $49.26. The company has a 50-day moving average price of $38.50 and a 200-day moving average price of $43.24. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 22.39 and a beta of 0.97.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, August 24th. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Patterson Companies, Inc. will post $2.29 earnings per share for the current year.
In related news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total transaction of $31,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.
Several research firms have recently commented on PDCO. Stifel Nicolaus lowered their price target on Patterson Companies from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Tuesday, August 15th. Cleveland Research restated a “hold” rating on shares of Patterson Companies in a research report on Tuesday, August 22nd. TheStreet lowered Patterson Companies from a “b-” rating to a “c” rating in a research report on Thursday, August 24th. Craig Hallum restated a “sell” rating and set a $41.00 price target (down from $46.00) on shares of Patterson Companies in a research report on Thursday, August 17th. They noted that the move was a valuation call. Finally, BidaskClub lowered Patterson Companies from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $42.89.
Patterson Companies Company 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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