Supplemental Annuity Collective Trust of NJ Buys New Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Supplemental Annuity Collective Trust of NJ purchased a new position in Patterson Companies, Inc. (NASDAQ:PDCO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,000 shares of the company’s stock, valued at approximately $247,000.

Several other hedge funds have also bought and sold shares of PDCO. GAMMA Investing LLC grew its stake in shares of Patterson Companies by 103.0% during the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after buying an additional 680 shares during the last quarter. International Assets Investment Management LLC boosted its position in Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after purchasing an additional 2,084 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after buying an additional 400 shares in the last quarter. KBC Group NV boosted 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 acquiring an additional 680 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Patterson Companies in the third quarter valued at approximately $65,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Insider Activity

In related news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the sale, the chief executive officer now owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. This trade 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 can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PDCO. 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 research note on Wednesday, December 11th. Robert W. Baird raised their target price on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Morgan Stanley raised their target price on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. StockNews.com assumed coverage on Patterson Companies in a research note on Friday, February 7th. They issued a “hold” rating for the company. Finally, Piper Sandler reduced their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $31.04 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.70 and a beta of 0.90. The stock has a 50 day simple moving average of $30.29 and a 200-day simple moving average of $24.92. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. On average, equities research analysts expect that Patterson Companies, Inc. will post 2.25 EPS for the current fiscal year.

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.