JPMorgan Chase & Co. Sells 59,624 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

JPMorgan Chase & Co. reduced its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 432,155 shares of the company’s stock after selling 59,624 shares during the quarter. JPMorgan Chase & Co.’s holdings in Patterson Companies were worth $9,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PDCO. KBC Group NV lifted its stake in Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after buying an additional 680 shares in the last quarter. Hsbc Holdings PLC lifted its position in Patterson Companies by 6.2% in the 2nd quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock valued at $341,000 after acquiring an additional 828 shares in the last quarter. Bfsg LLC lifted its position in Patterson Companies by 8.2% in the 3rd quarter. Bfsg LLC now owns 12,250 shares of the company’s stock valued at $268,000 after acquiring an additional 925 shares in the last quarter. Atria Investments Inc boosted its stake in Patterson Companies by 10.6% in the 3rd quarter. Atria Investments Inc now owns 10,115 shares of the company’s stock worth $221,000 after purchasing an additional 973 shares during the period. Finally, Allworth Financial LP increased its holdings in Patterson Companies by 12.8% during the 3rd quarter. Allworth Financial LP now owns 9,665 shares of the company’s stock worth $211,000 after purchasing an additional 1,098 shares in the last quarter. 85.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PDCO has been the topic of a number of recent research reports. Leerink Partners reiterated a “market perform” rating and issued a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Robert W. Baird boosted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Mizuho started coverage on Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target for the company. Eleven equities research 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Up 0.1 %

Shares of PDCO stock opened at $30.84 on Tuesday. The company has a market cap of $2.72 billion, a P/E ratio of 18.04, a PEG ratio of 2.70 and a beta of 0.89. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The stock has a 50 day simple moving average of $25.90 and a two-hundred day simple moving average of $23.94. 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 (NASDAQ:PDCO) last issued its quarterly earnings data 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 business had revenue of $1.67 billion for 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 firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share. Research analysts forecast that Patterson Companies, Inc. will post 2.26 earnings per share for the current year.

Insider Buying and Selling

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the company’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 sale, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by insiders.

Patterson Companies Company 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.