BNP Paribas Financial Markets Raises Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

BNP Paribas Financial Markets lifted its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 31.5% in the third quarter, HoldingsChannel.com reports. The firm owned 33,257 shares of the company’s stock after purchasing an additional 7,969 shares during the quarter. BNP Paribas Financial Markets’ holdings in Patterson Companies were worth $726,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC increased its stake in Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after buying an additional 843 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Patterson Companies during the second quarter worth about $41,000. Family Firm Inc. purchased a new stake in shares of Patterson Companies during the second quarter worth about $45,000. Meeder Asset Management Inc. bought a new stake in Patterson Companies during the 2nd quarter valued at approximately $45,000. Finally, International Assets Investment Management LLC boosted its stake in Patterson Companies by 2,084.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after purchasing an additional 2,084 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Price Performance

Shares of PDCO opened at $30.98 on Friday. The company has a market capitalization of $2.73 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.69 and a beta of 1.00. The business’s 50-day moving average is $21.52 and its two-hundred day moving average is $22.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) 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 company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. Research analysts predict that Patterson Companies, Inc. will post 2.29 earnings per share for the current year.

Patterson Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.04 annualized dividend and a yield of 3.36%. Patterson Companies’s dividend payout ratio is presently 60.82%.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the firm’s 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PDCO has been the subject of several research analyst reports. Evercore ISI cut their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, October 8th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Bank of America decreased their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Leerink Partners restated 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. Finally, Piper Sandler decreased their target price on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Patterson Companies has a consensus rating of “Hold” and an average target price of $26.24.

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.