Wolverine Asset Management LLC Makes New $785,000 Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Wolverine Asset Management LLC bought a new position in Patterson Companies, Inc. (NASDAQ:PDCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,436 shares of the company’s stock, valued at approximately $785,000.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Patterson Companies by 103.0% in the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after purchasing an additional 680 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after acquiring an additional 2,084 shares in the last quarter. Anchor Investment Management LLC increased its holdings in shares of Patterson Companies by 20.5% during the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after acquiring an additional 400 shares in the last quarter. KBC Group NV increased its holdings in shares of Patterson Companies by 32.7% during the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after acquiring an additional 680 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Patterson Companies during the third quarter valued at about $65,000. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $31.07 on Friday. The business’s 50-day moving average price is $30.93 and its 200 day moving average price is $25.20. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79. The company has a market capitalization of $2.74 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. 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 announced its earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. 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 business posted $0.50 earnings per share. On average, research analysts predict that Patterson Companies, Inc. will post 2.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Piper Sandler cut their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Robert W. Baird upped their target price on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. StockNews.com began coverage on Patterson Companies in a research report on Sunday. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their target price on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.57.

Insider Transactions at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction 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 sale, the chief executive officer now owns 222,736 shares of the company’s stock, valued at $5,140,746.88. The trade was a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

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.