4,927 Shares in Patterson Companies, Inc. (NASDAQ:PDCO) Purchased by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC acquired a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 4,927 shares of the company’s stock, valued at approximately $152,000.

A number of other hedge funds also recently bought and sold shares of PDCO. Envestnet Asset Management Inc. raised its holdings in shares of Patterson Companies by 52.8% during the second quarter. Envestnet Asset Management Inc. now owns 120,186 shares of the company’s stock valued at $2,899,000 after acquiring an additional 41,507 shares during the period. Sei Investments Co. raised its stake in Patterson Companies by 24.9% during the 2nd 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 period. Sanctuary Advisors LLC purchased a new stake in shares of Patterson Companies in the second quarter valued at $429,000. Cubist Systematic Strategies LLC acquired a new stake in Patterson Companies during the 2nd quarter worth about $2,520,000. Finally, Central Pacific Bank Trust Division grew its position in Patterson Companies by 100.0% during the third quarter. Central Pacific Bank Trust Division now owns 7,000 shares of the company’s stock valued at $153,000 after purchasing an additional 3,500 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the transaction, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Patterson Companies Trading Down 0.1 %

Shares of PDCO stock opened at $30.95 on Friday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 2.70 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 firm’s fifty day simple moving average is $28.58 and its 200 day simple moving average is $24.58. 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 posted its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Patterson Companies, Inc. will post 2.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PDCO shares. Piper Sandler lowered their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Mizuho began coverage on Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target on the stock. Finally, StockNews.com assumed coverage on shares of Patterson Companies in a research note on Thursday. They issued a “hold” rating for the company. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.