Foster & Motley Inc. Sells 11,044 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Foster & Motley Inc. lowered its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,222 shares of the company’s stock after selling 11,044 shares during the quarter. Foster & Motley Inc. owned approximately 0.06% of Patterson Companies worth $1,673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PDCO. GAMMA Investing LLC raised its holdings in Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after buying an additional 680 shares during the last quarter. International Assets Investment Management LLC increased its position in Patterson Companies by 2,084.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after purchasing an additional 2,084 shares during the period. Anchor Investment Management LLC increased its position in Patterson Companies by 20.5% during the 3rd 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. KBC Group NV increased its position in Patterson Companies by 32.7% during the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after purchasing an additional 680 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Patterson Companies during the 3rd quarter valued at approximately $65,000. Institutional investors own 85.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PDCO shares. StockNews.com started coverage on shares of Patterson Companies in a research report on Thursday. They set a “hold” rating for the company. Morgan Stanley raised their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Leerink Partnrs downgraded shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird raised their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Finally, Stifel Nicolaus reduced their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and an average target price of $26.57.

Insider Buying and Selling at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at approximately $5,140,746.88. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $30.99 on Friday. The company has a fifty day simple moving average of $28.37 and a 200 day simple moving average of $24.54. 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 company has a market cap of $2.74 billion, a P/E ratio of 18.12, a PEG ratio of 2.69 and a beta of 0.89.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly 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). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business posted $0.50 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts predict that Patterson Companies, Inc. will post 2.25 earnings per share for the current fiscal year.

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.