Alpine Associates Management Inc. Takes $10.58 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Alpine Associates Management Inc. acquired a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 342,874 shares of the company’s stock, valued at approximately $10,581,000. Alpine Associates Management Inc. owned 0.39% of Patterson Companies as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. US Bancorp DE increased its stake in shares of Patterson Companies by 21.1% in the 3rd quarter. US Bancorp DE now owns 32,253 shares of the company’s stock valued at $704,000 after purchasing an additional 5,623 shares in the last quarter. Van ECK Associates Corp increased its stake in Patterson Companies by 11.6% during the 3rd quarter. Van ECK Associates Corp now owns 72,717 shares of the company’s stock worth $1,542,000 after buying an additional 7,585 shares in the last quarter. Verity Asset Management Inc. purchased a new stake in Patterson Companies during the 3rd quarter worth approximately $238,000. Atria Investments Inc increased its stake in Patterson Companies by 10.6% during the 3rd quarter. Atria Investments Inc now owns 10,115 shares of the company’s stock worth $221,000 after buying an additional 973 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in Patterson Companies by 32.9% during the 3rd quarter. Chartwell Investment Partners LLC now owns 359,681 shares of the company’s stock worth $7,856,000 after buying an additional 88,968 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on PDCO shares. Piper Sandler cut their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. StockNews.com started coverage on Patterson Companies in a research note on Monday, March 3rd. They set a “hold” rating for the company. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley boosted their price objective on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus dropped their price target on 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’s stock. According to data from MarketBeat, Patterson Companies currently has an average rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Trading Up 0.0 %

Shares of Patterson Companies stock opened at $31.13 on Friday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.71 and a beta of 0.99. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The stock has a 50 day moving average of $30.98 and a 200 day moving average of $25.68.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. As a group, research analysts predict that Patterson Companies, Inc. will post 2.25 earnings per share for the current 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.