Foster & Motley Inc. Decreases Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Foster & Motley Inc. lowered its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 16.9% in the 4th quarter, HoldingsChannel reports. The fund owned 54,222 shares of the company’s stock after selling 11,044 shares during the period. Foster & Motley Inc.’s holdings in Patterson Companies were worth $1,673,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after acquiring an additional 680 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Patterson Companies by 2,084.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after buying an additional 2,084 shares in the last quarter. Anchor Investment Management LLC grew its holdings in Patterson Companies by 20.5% during 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. Blue Trust Inc. grew its holdings in Patterson Companies by 18.0% during the 4th quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock valued at $84,000 after buying an additional 417 shares in the last quarter. Finally, KBC Group NV grew its holdings in Patterson Companies by 32.7% during the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after buying an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PDCO. StockNews.com began coverage on Patterson Companies in a report on Thursday. They set a “hold” rating for the company. Evercore ISI reduced their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Leerink Partners reaffirmed a “market perform” rating and set a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Finally, Robert W. Baird lifted their target price on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and a consensus target price of $26.57.

Insider Activity

In other 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 transaction 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 represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $30.99 on Friday. The business has a 50 day moving average of $28.37 and a 200 day moving average of $24.54. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.69 and a beta of 0.89. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

Patterson Companies (NASDAQ:PDCO) last released its earnings results 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). The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. On average, sell-side analysts predict that Patterson Companies, Inc. will post 2.25 earnings per share 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.