Clark Estates Inc. NY Purchases New Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Clark Estates Inc. NY acquired a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 139,140 shares of the company’s stock, valued at approximately $4,294,000. Patterson Companies makes up 0.8% of Clark Estates Inc. NY’s portfolio, making the stock its 18th biggest position. Clark Estates Inc. NY owned about 0.16% of Patterson Companies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in Patterson Companies by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock worth $55,546,000 after buying an additional 245,376 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Patterson Companies by 591.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,186 shares of the company’s stock worth $160,000 after buying an additional 4,436 shares in the last quarter. US Bancorp DE boosted its stake in Patterson Companies by 1.6% during the fourth quarter. US Bancorp DE now owns 32,767 shares of the company’s stock worth $1,011,000 after buying an additional 514 shares during the last quarter. Equity Investment Corp grew its holdings in Patterson Companies by 16.6% in the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock valued at $62,614,000 after buying an additional 289,295 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Patterson Companies by 18.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company’s stock worth $44,924,000 after acquiring an additional 222,005 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Price Performance

PDCO stock opened at $31.13 on Wednesday. The business’s fifty day moving average price is $30.96 and its 200 day moving average price is $25.55. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $31.79. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.75 billion, a PE ratio of 18.20, a P/E/G ratio of 2.71 and a beta of 0.90.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (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 analysts’ expectations of $1.65 billion. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Patterson Companies, Inc. will post 2.25 EPS for the current year.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction 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 directly owns 222,736 shares in the company, valued at approximately $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PDCO has been the topic of several recent research reports. Leerink Partners reissued a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. StockNews.com began coverage on shares of Patterson Companies in a report on Monday. They issued a “hold” rating on the stock. Mizuho initiated coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target for the company. Robert W. Baird upped their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Stifel Nicolaus cut their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies 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.