10,845 Shares in Patterson Companies, Inc. (NASDAQ:PDCO) Bought by Choreo LLC

Choreo LLC bought a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,845 shares of the company’s stock, valued at approximately $261,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Management Group Inc. increased its stake in shares of Patterson Companies by 268.5% in the 2nd quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock valued at $34,532,000 after acquiring an additional 1,043,201 shares during the last quarter. Norges Bank acquired a new position in Patterson Companies during the fourth quarter valued at approximately $26,162,000. Vanguard Group Inc. increased its stake in Patterson Companies by 7.9% in the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock valued at $277,003,000 after purchasing an additional 730,819 shares in the last quarter. LSV Asset Management raised its holdings in Patterson Companies by 58.8% in the second quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock worth $33,559,000 after purchasing an additional 515,299 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in shares of Patterson Companies by 17.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,287,553 shares of the company’s stock worth $65,081,000 after purchasing an additional 332,593 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total transaction of $180,327.84. Following the sale, the chief executive officer now owns 230,072 shares in the company, valued at approximately $5,749,499.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Patterson Companies news, insider Les B. Korsh sold 2,842 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the sale, the insider now owns 103,765 shares in the company, valued at $2,460,268.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Donald Zurbay sold 7,216 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total transaction of $180,327.84. Following the transaction, the chief executive officer now owns 230,072 shares in the company, valued at $5,749,499.28. The disclosure for this sale can be found here. Insiders sold a total of 17,149 shares of company stock worth $415,851 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Patterson Companies Price Performance

NASDAQ PDCO opened at $21.96 on Thursday. The firm’s 50 day moving average is $23.90 and its 200-day moving average is $24.86. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.93 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02. Patterson Companies, Inc. has a 12-month low of $19.96 and a 12-month high of $32.58.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.08). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts anticipate that Patterson Companies, Inc. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PDCO has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. StockNews.com lowered Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Evercore ISI decreased their price objective on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a research report on Thursday, August 29th. Morgan Stanley lowered their target price on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.40.

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.