EMC Capital Management Raises Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

EMC Capital Management increased its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 600.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,053 shares of the company’s stock after buying an additional 13,762 shares during the period. EMC Capital Management’s holdings in Patterson Companies were worth $495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of Patterson Companies by 52.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 120,186 shares of the company’s stock worth $2,899,000 after acquiring an additional 41,507 shares in the last quarter. Hsbc Holdings PLC raised its stake in Patterson Companies by 6.2% during the second quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock valued at $341,000 after purchasing an additional 828 shares in the last quarter. Sei Investments Co. lifted its position in Patterson Companies by 24.9% during the second quarter. Sei Investments Co. now owns 51,313 shares of the company’s stock valued at $1,238,000 after purchasing an additional 10,220 shares during the last quarter. Algert Global LLC purchased a new position in shares of Patterson Companies in the 2nd quarter worth $1,939,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Patterson Companies by 1,574.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 340,000 shares of the company’s stock worth $8,201,000 after buying an additional 319,700 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were 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 directly owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

PDCO has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Patterson Companies in a report on Thursday. They issued a “hold” rating for the company. Mizuho initiated coverage on Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price for the company. Morgan Stanley increased 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. Leerink Partners reaffirmed a “market perform” rating and set a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Finally, Evercore ISI reduced their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Trading Down 0.0 %

NASDAQ PDCO opened at $30.98 on Thursday. The stock has a market cap of $2.74 billion, a PE ratio of 18.14, a PEG ratio of 2.69 and a beta of 0.89. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79. The company’s 50-day moving average price is $28.15 and its 200-day moving average price is $24.49. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last issued its 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 company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. Patterson Companies’s revenue was up 1.0% on a year-over-year basis. Equities research analysts forecast that Patterson Companies, Inc. will post 2.25 earnings per share for the current 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.