Aviance Capital Partners LLC Boosts Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Aviance Capital Partners LLC raised its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 37.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,169 shares of the company’s stock after acquiring an additional 15,446 shares during the quarter. Aviance Capital Partners LLC owned approximately 0.06% of Patterson Companies worth $1,733,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird lifted their target price on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Piper Sandler decreased their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Leerink Partners reiterated 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. Finally, Stifel Nicolaus lowered their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Patterson Companies has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Performance

PDCO stock opened at $31.12 on Friday. The business’s fifty day moving average is $30.97 and its 200-day moving average is $25.63. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The company has a market cap of $2.75 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. Equities research analysts forecast that Patterson Companies, Inc. will post 2.25 EPS for the current year.

Insider Buying and Selling

In other Patterson Companies 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 transaction of $45,282.96. Following the completion of the transaction, the chief executive officer now owns 222,736 shares in the company, valued at approximately $5,140,746.88. This represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by company insiders.

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.