Perkins Capital Management Inc. Boosts Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Perkins Capital Management Inc. lifted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 32.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,475 shares of the company’s stock after buying an additional 3,750 shares during the period. Perkins Capital Management Inc.’s holdings in Patterson Companies were worth $378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PDCO. FMR LLC lifted its stake in shares of Patterson Companies by 100.5% in the second quarter. FMR LLC now owns 4,692,969 shares of the company’s stock valued at $106,389,000 after buying an additional 2,352,041 shares during the period. BlackRock Inc. lifted its stake in Patterson Companies by 31.3% during the second quarter. BlackRock Inc. now owns 9,003,165 shares of the company’s stock worth $204,103,000 after purchasing an additional 2,146,696 shares during the period. Alps Advisors Inc. bought a new position in Patterson Companies during the second quarter worth about $48,813,000. First Trust Advisors LP lifted its stake in Patterson Companies by 187.9% during the second quarter. First Trust Advisors LP now owns 1,295,766 shares of the company’s stock worth $29,375,000 after purchasing an additional 845,635 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Patterson Companies by 224.6% during the second quarter. Renaissance Technologies LLC now owns 1,097,604 shares of the company’s stock worth $24,883,000 after purchasing an additional 759,500 shares during the period. Institutional investors and hedge funds own 90.51% of the company’s stock.

Shares of Patterson Companies stock opened at $23.51 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.79 and a quick ratio of 0.87. The company has a market capitalization of $2.18 billion, a P/E ratio of 13.99, a P/E/G ratio of 3.17 and a beta of 1.01. Patterson Companies, Inc. has a fifty-two week low of $20.22 and a fifty-two week high of $38.52.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, August 30th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.30 billion. Patterson Companies had a net margin of 3.01% and a return on equity of 9.71%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. Equities analysts predict that Patterson Companies, Inc. will post 1.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Thursday, October 11th. Patterson Companies’s dividend payout ratio is currently 61.90%.

A number of brokerages have commented on PDCO. Goldman Sachs Group began coverage on shares of Patterson Companies in a research note on Friday, October 19th. They set a “sell” rating and a $19.00 price target for the company. ValuEngine cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. BidaskClub lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Morgan Stanley dropped their price objective on shares of Patterson Companies from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Friday, August 31st. Finally, Barclays dropped their price objective on shares of Patterson Companies from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, August 31st. Eight investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $25.68.

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Patterson Companies Company Profile

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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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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