Duality Advisers LP Buys New Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Duality Advisers LP acquired a new position in Patterson Companies, Inc. (NASDAQ:PDCO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 65,597 shares of the company’s stock, valued at approximately $1,866,000. Duality Advisers LP owned 0.07% of Patterson Companies at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. HBK Sorce Advisory LLC lifted its position in shares of Patterson Companies by 4.8% in the 4th quarter. HBK Sorce Advisory LLC now owns 7,432 shares of the company’s stock worth $211,000 after acquiring an additional 341 shares during the period. Fifth Third Bancorp lifted its position in shares of Patterson Companies by 54.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after acquiring an additional 434 shares during the period. Strs Ohio lifted its position in shares of Patterson Companies by 1.4% in the 4th quarter. Strs Ohio now owns 35,300 shares of the company’s stock worth $1,004,000 after acquiring an additional 500 shares during the period. Foundry Partners LLC lifted its position in shares of Patterson Companies by 4.0% in the 3rd quarter. Foundry Partners LLC now owns 16,407 shares of the company’s stock worth $486,000 after acquiring an additional 627 shares during the period. Finally, Values First Advisors Inc. lifted its position in shares of Patterson Companies by 6.6% in the 4th quarter. Values First Advisors Inc. now owns 10,940 shares of the company’s stock worth $311,000 after acquiring an additional 677 shares during the period. Institutional investors own 85.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on PDCO shares. SVB Leerink started coverage on Patterson Companies in a research report on Monday, February 26th. They issued an “outperform” rating and a $36.00 price objective for the company. Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Piper Sandler downgraded Patterson Companies from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. cut their target price on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and an average target price of $33.11.

Patterson Companies Trading Down 0.4 %

PDCO stock opened at $25.91 on Tuesday. The business has a fifty day moving average price of $27.07 and a 200 day moving average price of $28.62. Patterson Companies, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $34.53. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.72.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $0.62 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.01%. Patterson Companies’s dividend payout ratio is 51.23%.

Patterson Companies Profile

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.