Schwab Charles Investment Management Inc. grew its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 39.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 665,061 shares of the company’s stock after buying an additional 188,174 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.70% of Patterson Companies worth $15,077,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D raised its position in Patterson Companies by 4.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 520,000 shares of the company’s stock worth $11,788,000 after purchasing an additional 20,000 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new position in Patterson Companies in the 2nd quarter worth $408,000. Quantbot Technologies LP raised its position in Patterson Companies by 309.6% in the 1st quarter. Quantbot Technologies LP now owns 104,665 shares of the company’s stock worth $2,326,000 after purchasing an additional 79,114 shares during the period. Janney Montgomery Scott LLC purchased a new position in Patterson Companies in the 2nd quarter worth $389,000. Finally, Advisory Services Network LLC raised its position in Patterson Companies by 44.2% in the 2nd quarter. Advisory Services Network LLC now owns 12,299 shares of the company’s stock worth $288,000 after purchasing an additional 3,770 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.
A number of equities analysts recently commented on PDCO shares. Bank of America decreased their target price on shares of Patterson Companies from $22.00 to $20.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 29th. BidaskClub cut shares of Patterson Companies from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. JPMorgan Chase & Co. decreased their target price on shares of Patterson Companies from $26.00 to $24.00 and set an “underweight” rating on the stock in a research report on Thursday, June 7th. Stifel Nicolaus decreased their target price on shares of Patterson Companies from $28.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, June 18th. Finally, Evercore ISI decreased their target price on shares of Patterson Companies from $20.00 to $18.50 and set an “underperform” rating on the stock in a research report on Thursday, June 21st. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.32.
Shares of Patterson Companies stock opened at $24.68 on Friday. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.37 and a beta of 1.07. Patterson Companies, Inc. has a 12-month low of $20.22 and a 12-month high of $40.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.79.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.30 billion. Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. Patterson Companies’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. research analysts expect that Patterson Companies, Inc. will post 1.43 earnings per share for the current fiscal year.
About Patterson Companies
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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