Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Keynote Financial Services LLC

Keynote Financial Services LLC trimmed its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 18.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,635 shares of the company’s stock after selling 3,505 shares during the quarter. Keynote Financial Services LLC’s holdings in Patterson Companies were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Equity Investment Corp lifted its position in shares of Patterson Companies by 16.6% in the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after buying an additional 289,295 shares during the last quarter. River Road Asset Management LLC raised its stake in Patterson Companies by 3.6% during the third quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock worth $43,423,000 after acquiring an additional 68,947 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Patterson Companies by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock worth $33,952,000 after acquiring an additional 81,524 shares during the last quarter. Private Management Group Inc. boosted its stake in Patterson Companies by 5.8% in the third quarter. Private Management Group Inc. now owns 1,515,255 shares of the company’s stock valued at $33,093,000 after acquiring an additional 83,589 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Patterson Companies by 18.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company’s stock valued at $44,924,000 after purchasing an additional 222,005 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PDCO has been the subject of a number of analyst reports. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird upped their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Morgan Stanley increased their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Piper Sandler reduced their target price on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Finally, StockNews.com assumed coverage on shares of Patterson Companies in a research note on Sunday, February 23rd. They issued a “hold” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Stock Performance

PDCO opened at $31.14 on Friday. The business has a 50 day moving average price of $30.95 and a two-hundred day moving average price of $25.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business earned $0.50 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts predict that Patterson Companies, Inc. will post 2.25 EPS for the current fiscal year.

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction that occurred on 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 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

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.