SG Americas Securities LLC reduced its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 56.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,798 shares of the company’s stock after selling 6,150 shares during the period. SG Americas Securities LLC’s holdings in Patterson Companies were worth $225,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. LMR Partners LLP bought a new position in Patterson Companies during the second quarter valued at about $778,000. Ridgewood Investments LLC increased its stake in shares of Patterson Companies by 3.6% in the second quarter. Ridgewood Investments LLC now owns 4,601 shares of the company’s stock worth $216,000 after purchasing an additional 159 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Patterson Companies by 4.3% in the second quarter. Advisors Asset Management Inc. now owns 25,886 shares of the company’s stock worth $1,215,000 after purchasing an additional 1,057 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Patterson Companies by 17.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 10,333 shares of the company’s stock worth $507,000 after purchasing an additional 1,560 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Patterson Companies by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 389,552 shares of the company’s stock worth $18,290,000 after purchasing an additional 15,775 shares during the period. Institutional investors own 88.73% of the company’s stock.
A number of equities analysts have recently commented on the company. Stifel Nicolaus dropped their price objective on Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Tuesday, August 15th. Cleveland Research reiterated a “hold” rating on shares of Patterson Companies in a research note on Tuesday, August 22nd. TheStreet lowered Patterson Companies from a “b-” rating to a “c” rating in a research note on Thursday, August 24th. Craig Hallum reiterated a “sell” rating and issued a $41.00 price objective (down from $46.00) on shares of Patterson Companies in a research note on Thursday, August 17th. They noted that the move was a valuation call. Finally, BidaskClub lowered Patterson Companies from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $42.89.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at 37.94 on Tuesday. The company’s 50-day moving average price is $38.38 and its 200-day moving average price is $43.15. Patterson Companies, Inc. has a 52-week low of $35.93 and a 52-week high of $49.26. The firm has a market capitalization of $3.54 billion, a P/E ratio of 22.05 and a beta of 0.97.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. On average, equities research analysts expect that Patterson Companies, Inc. will post $2.29 EPS for the current fiscal year.
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In other news, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.
About Patterson Companies
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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