Wolverine Asset Management LLC Buys Shares of 25,436 Patterson Companies, Inc. (NASDAQ:PDCO)

Wolverine Asset Management LLC purchased a new position in Patterson Companies, Inc. (NASDAQ:PDCO) in the fourth quarter, Holdings Channel reports. The fund purchased 25,436 shares of the company’s stock, valued at approximately $785,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PDCO. Handelsbanken Fonder AB raised its holdings in Patterson Companies by 25.6% in the 4th quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock valued at $787,000 after acquiring an additional 5,200 shares in the last quarter. LMG Wealth Partners LLC bought a new stake in Patterson Companies during the 4th quarter worth approximately $284,000. Ieq Capital LLC acquired a new position in Patterson Companies during the 4th quarter worth $316,000. Kestra Investment Management LLC acquired a new position in Patterson Companies during the 4th quarter worth $217,000. Finally, CIBC Asset Management Inc acquired a new position in Patterson Companies during the 4th quarter worth $256,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PDCO shares. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Stifel Nicolaus lowered their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Robert W. Baird increased 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 price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Finally, Leerink Partners restated a “market perform” rating and set a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Patterson Companies currently has an average rating of “Hold” and a consensus price target of $26.57.

Insiders Place Their Bets

In related news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the transaction, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by insiders.

Patterson Companies Trading Up 0.0 %

Shares of PDCO stock opened at $31.07 on Friday. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $31.79. The firm has a market cap of $2.74 billion, a P/E ratio of 18.17, a PEG ratio of 2.71 and a beta of 0.90. 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 50 day moving average of $30.93 and a 200-day moving average of $25.20.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.47 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 firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Patterson Companies, Inc. will post 2.25 earnings per share for the current year.

About Patterson Companies

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.