Livforsakringsbolaget Skandia Omsesidigt Increases Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 24.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,600 shares of the company’s stock after acquiring an additional 7,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Patterson Companies were worth $865,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Equity Investment Corp acquired a new position in shares of Patterson Companies in the 2nd quarter valued at $37,935,000. Private Management Group Inc. increased its stake in Patterson Companies by 268.5% during the second quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock worth $34,532,000 after acquiring an additional 1,043,201 shares during the last quarter. Vanguard Group Inc. increased its stake in Patterson Companies by 7.9% during the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock worth $277,003,000 after acquiring an additional 730,819 shares during the last quarter. LSV Asset Management raised its holdings in shares of Patterson Companies by 58.8% in the 2nd quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock worth $33,559,000 after purchasing an additional 515,299 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Patterson Companies by 83.6% in the 2nd quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock valued at $21,775,000 after purchasing an additional 411,012 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PDCO. UBS Group cut their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Morgan Stanley cut their target price on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. Bank of America decreased their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Robert W. Baird cut their price objective on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Evercore ISI lowered their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Patterson Companies has an average rating of “Hold” and a consensus price target of $28.30.

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total transaction of $180,327.84. Following the sale, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at approximately $5,749,499.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Patterson Companies Stock Up 2.4 %

PDCO stock opened at $20.64 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $22.43 and a 200-day simple moving average of $24.14. The company has a market capitalization of $1.82 billion, a P/E ratio of 11.28, a PEG ratio of 1.46 and a beta of 1.02. Patterson Companies, Inc. has a twelve month low of $19.89 and a twelve month high of $32.58.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.08). The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. Patterson Companies’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. On average, equities research analysts predict that Patterson Companies, Inc. will post 2.33 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Friday, October 18th. Patterson Companies’s dividend payout ratio is presently 56.83%.

Patterson Companies 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.