Patterson Companies, Inc. (NASDAQ:PDCO) Stake Lowered by Abundance Wealth Counselors

Abundance Wealth Counselors decreased its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 22.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,422 shares of the company’s stock after selling 6,461 shares during the period. Abundance Wealth Counselors’ holdings in Patterson Companies were worth $692,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its stake in Patterson Companies by 31.5% in 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 last quarter. Equity Investment Corp boosted its stake in 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 purchasing an additional 166,899 shares during the period. Goodman Financial Corp grew its position in Patterson Companies by 19.1% in the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after purchasing an additional 86,972 shares during the last quarter. Mork Capital Management LLC increased its stake in shares of Patterson Companies by 142.9% in 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 period. Finally, Barclays PLC raised its holdings in shares of 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 buying an additional 44,906 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the sale, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. This 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 this hyperlink. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on PDCO shares. Morgan Stanley raised their target price on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Mizuho assumed coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price objective for the company. Piper Sandler lowered their target price on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Finally, Stifel Nicolaus reduced their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Down 0.1 %

Patterson Companies stock opened at $30.95 on Friday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. Patterson Companies, Inc. has a 1 year low of $19.45 and a 1 year high of $31.79. The firm’s 50 day moving average price is $28.58 and its two-hundred day moving average price is $24.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37.

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 analysts’ consensus estimates of $0.49 by ($0.02). The company had revenue of $1.67 billion for the quarter, compared to analyst estimates 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 for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. On average, research analysts predict that Patterson Companies, Inc. will post 2.25 EPS 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.