Patterson Companies, Inc. (NASDAQ:PDCO) Position Raised by Anchor Investment Management LLC

Anchor Investment Management LLC raised its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 20.5% in the third quarter, HoldingsChannel reports. The firm owned 2,350 shares of the company’s stock after acquiring an additional 400 shares during the period. Anchor Investment Management LLC’s holdings in Patterson Companies were worth $51,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Equity Investment Corp bought a new stake in Patterson Companies during the second quarter worth approximately $37,935,000. Private Management Group Inc. boosted its position in shares of Patterson Companies by 268.5% during the 2nd quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock valued at $34,532,000 after purchasing an additional 1,043,201 shares in the last quarter. LSV Asset Management grew its stake in shares of Patterson Companies by 58.8% in the 2nd quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock worth $33,559,000 after purchasing an additional 515,299 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Patterson Companies in the 3rd quarter worth approximately $11,183,000. Finally, American Century Companies Inc. lifted its stake in Patterson Companies by 83.6% during the second quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock valued at $21,775,000 after purchasing an additional 411,012 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PDCO. Piper Sandler dropped their price target on 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 price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. StockNews.com began coverage on shares of Patterson Companies in a report on Sunday, December 29th. They set a “hold” rating on the stock. Morgan Stanley upped their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Evercore ISI cut their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.57.

Insiders Place Their Bets

In other news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value 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. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Patterson Companies Stock Performance

PDCO stock opened at $30.82 on Friday. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 2.70 and a beta of 1.00. The firm has a 50 day moving average of $24.73 and a two-hundred day moving average of $23.68. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last posted 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). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. Patterson Companies’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. As a group, equities analysts anticipate that Patterson Companies, Inc. will post 2.26 EPS for the current fiscal year.

About Patterson Companies

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.