Private Management Group Inc. Has $42.25 Million Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Private Management Group Inc. lowered its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 9.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,369,027 shares of the company’s stock after selling 146,228 shares during the period. Patterson Companies accounts for approximately 1.5% of Private Management Group Inc.’s portfolio, making the stock its 10th biggest holding. Private Management Group Inc.’s holdings in Patterson Companies were worth $42,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of Patterson Companies in the 2nd quarter worth approximately $429,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Patterson Companies in the second quarter worth $2,520,000. SG Americas Securities LLC increased its holdings in shares of Patterson Companies by 104.1% during the third quarter. SG Americas Securities LLC now owns 31,465 shares of the company’s stock valued at $687,000 after acquiring an additional 16,045 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Patterson Companies by 24.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 39,600 shares of the company’s stock worth $865,000 after purchasing an additional 7,700 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Patterson Companies by 44.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 35,244 shares of the company’s stock worth $770,000 after purchasing an additional 10,773 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PDCO shares. Morgan Stanley lifted their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Robert W. Baird upped their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. StockNews.com initiated coverage on Patterson Companies in a report on Thursday, January 30th. They issued a “hold” rating for the company. Stifel Nicolaus lowered their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Finally, Mizuho assumed coverage on Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.57.

Insider Activity at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the transaction, the chief executive officer now owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

Patterson Companies Price Performance

Shares of NASDAQ:PDCO opened at $31.01 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $2.74 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90. The firm’s 50 day moving average price is $29.17 and its 200-day moving average price is $24.68. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last released its quarterly 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). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business posted $0.50 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that Patterson Companies, Inc. will post 2.25 EPS for the current 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.