Duality Advisers LP Makes New $1.87 Million Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

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

A number of other large investors have also recently bought and sold shares of PDCO. SG Americas Securities LLC grew its holdings in Patterson Companies by 516.6% during the 3rd quarter. SG Americas Securities LLC now owns 45,191 shares of the company’s stock worth $1,339,000 after acquiring an additional 37,862 shares during the period. Handelsbanken Fonder AB grew its holdings in Patterson Companies by 51.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 20,300 shares of the company’s stock worth $602,000 after acquiring an additional 6,900 shares during the period. Mission Wealth Management LP grew its holdings in Patterson Companies by 3.9% during the 3rd quarter. Mission Wealth Management LP now owns 37,147 shares of the company’s stock worth $1,101,000 after acquiring an additional 1,382 shares during the period. Foster & Motley Inc. grew its holdings in Patterson Companies by 4.0% during the 3rd quarter. Foster & Motley Inc. now owns 92,868 shares of the company’s stock worth $2,753,000 after acquiring an additional 3,588 shares during the period. Finally, Brown Advisory Inc. grew its holdings in Patterson Companies by 2.6% during the 3rd quarter. Brown Advisory Inc. now owns 1,390,876 shares of the company’s stock worth $41,226,000 after acquiring an additional 34,958 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Patterson Companies Trading Down 0.4 %

NASDAQ:PDCO opened at $25.91 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.32 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06. The firm’s 50 day moving average is $27.07 and its 200 day moving average is $28.62. Patterson Companies, Inc. has a 12 month low of $25.00 and a 12 month high of $34.53.

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

Patterson Companies Announces Dividend

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

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.