Supplemental Annuity Collective Trust of NJ Makes New $247,000 Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Supplemental Annuity Collective Trust of NJ acquired a new position in Patterson Companies, Inc. (NASDAQ:PDCO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,000 shares of the company’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PDCO. BNP Paribas Financial Markets boosted its stake in Patterson Companies by 31.5% during the third quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock valued at $726,000 after buying an additional 7,969 shares during the period. Equity Investment Corp boosted its position in shares of Patterson Companies by 10.6% during the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after acquiring an additional 166,899 shares during the last quarter. Goodman Financial Corp boosted its position in shares of Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock valued at $11,865,000 after acquiring an additional 86,972 shares during the last quarter. Mork Capital Management LLC lifted its position in Patterson Companies by 142.9% during the third quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock valued at $1,856,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Barclays PLC lifted its position in Patterson Companies by 37.2% during the third quarter. Barclays PLC now owns 165,715 shares of the company’s stock valued at $3,619,000 after purchasing an additional 44,906 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PDCO. 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 report on Friday, December 6th. Mizuho assumed coverage on Patterson Companies in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price for the company. Morgan Stanley boosted their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Stifel Nicolaus lowered their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Finally, Leerink Partners reissued a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.57.

Insider Buying and Selling

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by company insiders.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $31.04 on Friday. The company has a 50-day moving average price of $30.29 and a 200-day moving average price of $24.92. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 18.15, a P/E/G 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. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) 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 the consensus estimate of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS. Equities analysts predict that Patterson Companies, Inc. will post 2.25 EPS for the current year.

Patterson Companies Company Profile

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.