Rowlandmiller & PARTNERS.ADV Sells 7,675 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Rowlandmiller & PARTNERS.ADV trimmed its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 10.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 69,228 shares of the company’s stock after selling 7,675 shares during the quarter. Rowlandmiller & PARTNERS.ADV owned 0.08% of Patterson Companies worth $2,136,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PDCO. GAMMA Investing LLC lifted its holdings in shares of Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after acquiring an additional 680 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Patterson Companies by 2,084.0% in the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after buying an additional 2,084 shares during the period. Anchor Investment Management LLC increased its stake in shares of Patterson Companies by 20.5% in the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after buying an additional 400 shares during the period. KBC Group NV increased its stake in shares of Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after buying an additional 680 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Patterson Companies in the third quarter worth $65,000. 85.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Patterson Companies in a research note on Sunday. They issued a “hold” rating on the stock. Leerink Partners reaffirmed a “market perform” rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. 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 research note on Tuesday, December 17th. Piper Sandler reduced their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Finally, Robert W. Baird boosted their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and an average price target of $26.57.

Insider Activity

In related news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,140,746.88. This represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Patterson Companies Price Performance

NASDAQ PDCO opened at $31.07 on Monday. Patterson Companies, Inc. has a 52 week low of $19.45 and a 52 week high of $31.79. The firm has a market capitalization of $2.74 billion, a P/E ratio of 18.17, a PEG ratio of 2.71 and a beta of 0.90. 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 company has a 50-day moving average price of $30.93 and a 200-day moving average price of $25.21.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company earned $0.50 EPS. Patterson Companies’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Patterson Companies, Inc. will post 2.25 earnings per share 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.