Burren Capital Advisors Ltd Invests $1.66 Million in Patterson Companies, Inc. (NASDAQ:PDCO)

Burren Capital Advisors Ltd purchased a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the 4th quarter, HoldingsChannel reports. The fund purchased 53,768 shares of the company’s stock, valued at approximately $1,659,000. Patterson Companies makes up approximately 8.0% of Burren Capital Advisors Ltd’s holdings, making the stock its 6th largest position.

A number of other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake 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 worth $48,000 after buying an additional 2,084 shares during the last quarter. US Bancorp DE grew its position in Patterson Companies by 21.1% during the 3rd quarter. US Bancorp DE now owns 32,253 shares of the company’s stock worth $704,000 after acquiring an additional 5,623 shares during the last quarter. Van ECK Associates Corp grew its position in Patterson Companies by 11.6% during the 3rd quarter. Van ECK Associates Corp now owns 72,717 shares of the company’s stock worth $1,542,000 after acquiring an additional 7,585 shares during the last quarter. Keynote Financial Services LLC acquired a new position in Patterson Companies in the third quarter worth $418,000. Finally, Verity Asset Management Inc. acquired a new position in Patterson Companies in the third quarter worth $238,000. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Price Performance

PDCO opened at $31.13 on Friday. The stock has a market cap of $2.75 billion, a P/E ratio of 18.20, a P/E/G ratio of 2.71 and a beta of 0.99. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $30.98 and a 200 day simple moving average of $25.67.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS 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 business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business earned $0.50 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts expect that Patterson Companies, Inc. will post 2.25 EPS for the current year.

Insiders Place Their Bets

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s 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 sale, the chief executive officer now owns 222,736 shares in the company, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Mizuho initiated coverage on shares of Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price on the stock. Leerink Partners reissued a “market perform” rating and set a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Piper Sandler dropped their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, December 6th. Finally, Robert W. Baird increased their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and an average target price of $26.57.

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.