Patterson Companies, Inc. (NASDAQ:PDCO) Shares Bought by Seven Eight Capital LP

Seven Eight Capital LP increased its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 177.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,504 shares of the company’s stock after acquiring an additional 47,032 shares during the quarter. Seven Eight Capital LP’s holdings in Patterson Companies were worth $1,773,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund purchased a new stake in Patterson Companies during the 1st quarter worth approximately $1,339,000. Norges Bank bought a new stake in shares of Patterson Companies in the fourth quarter worth $26,162,000. Sound Income Strategies LLC raised its holdings in Patterson Companies by 10.3% in the first quarter. Sound Income Strategies LLC now owns 619,529 shares of the company’s stock valued at $17,130,000 after acquiring an additional 58,084 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Patterson Companies during the 1st quarter valued at $535,000. Finally, Russell Investments Group Ltd. grew its holdings in Patterson Companies by 1,802.5% during the 1st quarter. Russell Investments Group Ltd. now owns 67,615 shares of the company’s stock worth $1,870,000 after acquiring an additional 64,061 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 5,875 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $139,296.25. Following the completion of the transaction, the chief executive officer now directly owns 237,288 shares in the company, valued at $5,626,098.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Les B. Korsh sold 2,842 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $67,383.82. Following the transaction, the insider now directly owns 103,765 shares of the company’s stock, valued at $2,460,268.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald Zurbay sold 5,875 shares of Patterson Companies stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $139,296.25. Following the sale, the chief executive officer now owns 237,288 shares in the company, valued at $5,626,098.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,149 shares of company stock worth $415,851. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PDCO. Morgan Stanley cut their target price on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. Evercore ISI reduced their target price on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday, August 29th. Bank of America lowered their price target on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. reduced their price objective on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, Robert W. Baird lowered their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and an average price target of $28.40.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $21.96 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The firm has a market capitalization of $1.93 billion, a PE ratio of 10.98, a P/E/G ratio of 1.53 and a beta of 1.02. Patterson Companies, Inc. has a 1-year low of $19.96 and a 1-year high of $32.58. The business’s fifty day moving average price is $23.90 and its two-hundred day moving average price is $24.86.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. On average, research analysts expect that Patterson Companies, Inc. will post 2.33 EPS 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.