Janney Montgomery Scott LLC Buys New Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Janney Montgomery Scott LLC purchased a new position in Patterson Companies, Inc. (NASDAQ:PDCO) during the fourth quarter, Holdings Channel reports. The fund purchased 36,331 shares of the company’s stock, valued at approximately $1,121,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Anchor Investment Management LLC grew its holdings in Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after acquiring an additional 400 shares during the last quarter. KBC Group NV boosted its holdings in shares of Patterson Companies by 32.7% during the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after purchasing an additional 680 shares during the period. GAMMA Investing LLC grew its stake in shares of Patterson Companies by 103.0% in the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after purchasing an additional 680 shares during the last quarter. Bfsg LLC increased its holdings in Patterson Companies by 8.2% during the 3rd quarter. Bfsg LLC now owns 12,250 shares of the company’s stock valued at $268,000 after purchasing an additional 925 shares during the period. Finally, Atria Investments Inc raised its position in Patterson Companies by 10.6% during the 3rd quarter. Atria Investments Inc now owns 10,115 shares of the company’s stock valued at $221,000 after purchasing an additional 973 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PDCO. Robert W. Baird lifted their price objective on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Mizuho assumed coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target on the stock. StockNews.com initiated coverage on shares of Patterson Companies in a report on Thursday, January 30th. They issued a “hold” rating for the company. Piper Sandler cut 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 note on Friday, December 6th. Finally, Stifel Nicolaus decreased their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.57.

Insider Activity

In other news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction that occurred on 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 owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Patterson Companies Price Performance

Shares of PDCO opened at $31.00 on Wednesday. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The firm’s 50-day simple moving average is $28.98 and its two-hundred day simple moving average is $24.64. The stock has a market cap of $2.74 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90. 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 posted its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 EPS. Analysts anticipate that Patterson Companies, Inc. will post 2.25 earnings per share for the current fiscal year.

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.