Mission Wealth Management LP Sells 4,083 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Mission Wealth Management LP lessened its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,196 shares of the company’s stock after selling 4,083 shares during the quarter. Mission Wealth Management LP’s holdings in Patterson Companies were worth $963,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC acquired a new position in Patterson Companies during the 3rd quarter valued at about $11,183,000. Royce & Associates LP purchased a new position in shares of Patterson Companies during the third quarter valued at approximately $6,807,000. Equity Investment Corp grew its holdings in Patterson Companies by 16.6% during the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after buying an additional 289,295 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Patterson Companies by 18.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company’s stock worth $44,924,000 after buying an additional 222,005 shares in the last quarter. Finally, Moran Wealth Management LLC purchased a new stake in Patterson Companies in the 3rd quarter valued at $2,389,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Activity

In related news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies 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 transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $31.13 on Wednesday. The company has a market capitalization of $2.75 billion, a P/E ratio of 18.20, a P/E/G ratio of 2.71 and a beta of 0.90. The business has a fifty day simple moving average of $30.96 and a two-hundred day simple moving average of $25.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. Patterson Companies, Inc. has a 1 year low of $19.45 and a 1 year high of $31.79.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data 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). The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. On average, analysts expect that Patterson Companies, Inc. will post 2.25 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on PDCO. Leerink Partnrs downgraded shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Stifel Nicolaus reduced their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Leerink Partners reiterated a “market perform” rating and issued a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Robert W. Baird boosted their target price on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, Mizuho began coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.57.

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.