Sound Income Strategies LLC Sells 596,135 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Sound Income Strategies LLC trimmed its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 96.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,300 shares of the company’s stock after selling 596,135 shares during the period. Sound Income Strategies LLC’s holdings in Patterson Companies were worth $688,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PDCO. Janney Montgomery Scott LLC bought a new stake in Patterson Companies during the 4th quarter worth approximately $1,121,000. Dakota Wealth Management acquired a new position in shares of Patterson Companies during the fourth quarter worth $1,032,000. Profit Investment Management LLC lifted its holdings in shares of Patterson Companies by 7.8% during the fourth quarter. Profit Investment Management LLC now owns 101,685 shares of the company’s stock worth $3,138,000 after purchasing an additional 7,338 shares during the period. GAMMA Investing LLC increased its holdings in Patterson Companies by 103.0% in the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after purchasing an additional 680 shares during the period. Finally, Anchor Investment Management LLC increased its holdings in Patterson Companies by 20.5% in the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PDCO. Stifel Nicolaus reduced their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, December 5th. Leerink Partnrs downgraded shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. 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 price objective on the stock. Finally, Piper Sandler lowered their target price 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Patterson Companies has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Up 0.1 %

NASDAQ:PDCO opened at $30.93 on Friday. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79. 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 stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.69 and a beta of 0.89. The firm has a fifty day simple moving average of $27.51 and a two-hundred day simple moving average of $24.33.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.65 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that Patterson Companies, Inc. will post 2.25 EPS for the current fiscal year.

Insider Transactions at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. This trade represents 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 hyperlink. 1.90% of the stock is owned by insiders.

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.