Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 15.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,045 shares of the company’s stock after purchasing an additional 2,986 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Patterson Companies were worth $1,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDCO. Jarislowsky Fraser Ltd increased its holdings in shares of Patterson Companies by 0.3% in the second quarter. Jarislowsky Fraser Ltd now owns 14,321 shares of the company’s stock worth $672,000 after buying an additional 42 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Patterson Companies by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock worth $476,000 after buying an additional 70 shares during the period. Lowe Brockenbrough & Co. Inc. increased its holdings in shares of Patterson Companies by 0.6% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 12,475 shares of the company’s stock worth $586,000 after buying an additional 70 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Patterson Companies by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 20,363 shares of the company’s stock worth $956,000 after buying an additional 112 shares during the period. Finally, Teton Advisors Inc. increased its holdings in shares of Patterson Companies by 0.5% in the first quarter. Teton Advisors Inc. now owns 29,404 shares of the company’s stock worth $1,330,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 88.61% of the company’s stock.

Several research firms have recently commented on PDCO. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus reduced their price target on Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Tuesday, August 15th. BidaskClub downgraded Patterson Companies from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Cleveland Research restated a “hold” rating on shares of Patterson Companies in a report on Tuesday, August 22nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $50.00 price target (up previously from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $42.89.

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In related news, insider Ann B. Gugino sold 750 shares of the stock in a transaction 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

Shares of Patterson Companies, Inc. (PDCO) opened at 38.89 on Thursday. The company has a market capitalization of $3.63 billion, a PE ratio of 22.60 and a beta of 0.97. The stock has a 50 day moving average price of $39.18 and a 200-day moving average price of $43.49. 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 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.44. The firm had revenue of $1.30 billion during 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%. Patterson Companies’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. Analysts forecast that Patterson Companies, Inc. will post $2.29 EPS for the current year.

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.

Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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