BNP Paribas Arbitrage SA Cuts Stake in Patterson Companies, Inc. (PDCO)
BNP Paribas Arbitrage SA lessened its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 41.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,794 shares of the company’s stock after selling 22,375 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Patterson Companies were worth $1,493,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Patterson Companies by 27.8% during the first 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 during the period. Invictus RG acquired a new position in shares of Patterson Companies during the first quarter valued at $119,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Patterson Companies by 29.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,079 shares of the company’s stock valued at $139,000 after acquiring an additional 698 shares during the period. Nordea Investment Management AB lifted its stake in shares of Patterson Companies by 48.4% during the first 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 during the period. Finally, Palisade Asset Management LLC acquired a new position in shares of Patterson Companies during the second quarter valued at $188,000. 88.61% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Director Scott P. Anderson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total value of $467,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total value of $31,800.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.
Patterson Companies, Inc. (PDCO) opened at 37.88 on Monday. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 22.01 and a beta of 0.97. Patterson Companies, Inc. has a 1-year low of $35.93 and a 1-year high of $49.26. The firm has a 50-day moving average price of $39.56 and a 200 day moving average price of $43.57.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Equities analysts predict that Patterson Companies, Inc. will post $2.29 earnings per share for the current year.
Several equities analysts have weighed in on PDCO shares. Stifel Nicolaus cut their target price 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. BidaskClub lowered Patterson Companies from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Cleveland Research reissued a “hold” rating on shares of Patterson Companies in a research note on Tuesday, August 22nd. Credit Suisse Group reissued an “outperform” rating and issued a $50.00 target price (up previously from $45.00) on shares of Patterson Companies in a research note on Thursday, July 13th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $40.00 target price on shares of Patterson Companies in a research note on Monday, May 15th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Patterson Companies currently has an average rating of “Hold” and a consensus target price of $42.89.
Patterson Companies Company 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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