Cambridge Investment Research Advisors Inc. lessened its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,453 shares of the company’s stock after selling 589 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Patterson Companies were worth $256,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Patterson Companies by 27.8% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock valued at $104,000 after acquiring an additional 500 shares in the last quarter. Invictus RG purchased a new stake in Patterson Companies during the 1st quarter valued at about $119,000. Nordea Investment Management AB grew its stake in Patterson Companies by 48.4% during the 1st quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock valued at $169,000 after acquiring an additional 1,218 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in Patterson Companies during the 2nd quarter valued at about $188,000. Finally, Moreno Evelyn V purchased a new stake in Patterson Companies during the 2nd quarter valued at about $202,000. 88.73% of the stock is owned by institutional investors.
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Several analysts recently issued reports on PDCO shares. TheStreet cut shares of Patterson Companies from a “b-” rating to a “c” rating in a research note on Thursday, August 24th. Credit Suisse Group reaffirmed an “outperform” rating and set a $50.00 price objective (up previously from $45.00) on shares of Patterson Companies in a research note on Thursday, July 13th. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. BidaskClub raised shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Stifel Nicolaus lowered shares of Patterson Companies from a “hold” rating to a “sell” rating and decreased their target price for the company from $47.43 to $39.00 in a report on Thursday, July 6th. Five analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Patterson Companies presently has a consensus rating of “Hold” and an average price target of $42.89.
In other news, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total transaction of $31,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.
Patterson Companies, Inc. (NASDAQ:PDCO) opened at 37.94 on Tuesday. The firm has a 50-day moving average of $38.38 and a 200 day moving average of $43.15. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 22.05 and a beta of 0.97. Patterson Companies, Inc. has a 12-month low of $35.93 and a 12-month high of $49.26.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, equities analysts predict that Patterson Companies, Inc. will post $2.29 EPS for the current year.
Patterson Companies Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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