Redmond Asset Management LLC purchased a new position in Patterson Companies, Inc. (NASDAQ:PDCO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,104 shares of the company’s stock, valued at approximately $735,000.
Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Patterson Companies by 36.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,085,525 shares of the company’s stock worth $60,662,000 after buying an additional 822,221 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Patterson Companies by 6.0% in the first quarter. Gamco Investors INC. ET AL now owns 1,906,285 shares of the company’s stock worth $41,652,000 after purchasing an additional 108,421 shares during the last quarter. LSV Asset Management increased its position in shares of Patterson Companies by 14.7% in the first quarter. LSV Asset Management now owns 1,200,054 shares of the company’s stock worth $26,221,000 after purchasing an additional 153,542 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Patterson Companies by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,176,592 shares of the company’s stock worth $23,130,000 after purchasing an additional 15,646 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Patterson Companies by 57.1% in the first quarter. Neuberger Berman Group LLC now owns 1,101,838 shares of the company’s stock worth $24,071,000 after purchasing an additional 400,439 shares during the last quarter. 93.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PDCO stock traded down $0.30 during trading on Thursday, hitting $16.62. The company had a trading volume of 18,270 shares, compared to its average volume of 1,301,523. The company has a quick ratio of 0.96, a current ratio of 1.83 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $20.52. The firm has a market cap of $1.73 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.93 and a beta of 1.29. Patterson Companies, Inc. has a 52 week low of $16.74 and a 52 week high of $26.60.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Patterson Companies had a return on equity of 8.94% and a net margin of 1.50%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company posted $0.30 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts anticipate that Patterson Companies, Inc. will post 1.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date was Thursday, July 11th. Patterson Companies’s payout ratio is currently 74.29%.
Several research analysts recently weighed in on PDCO shares. ValuEngine cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $23.00 price objective on the stock in a research report on Monday, June 10th. JPMorgan Chase & Co. decreased their price objective on shares of Patterson Companies from $22.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. UBS Group set a $24.00 price objective on shares of Patterson Companies and gave the stock a “hold” rating in a research report on Tuesday, June 25th. Finally, Wolfe Research started coverage on shares of Patterson Companies in a research report on Thursday, May 30th. They issued an “underperform” rating on the stock. Seven investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has a consensus rating of “Sell” and a consensus price target of $21.14.
Patterson Companies Company Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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