Tritonpoint Wealth LLC Acquires New Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Tritonpoint Wealth LLC bought a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,551 shares of the company’s stock, valued at approximately $264,000.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Patterson Companies by 103.0% during the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after buying an additional 680 shares in the last quarter. International Assets Investment Management LLC grew its position 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 valued at $48,000 after purchasing an additional 2,084 shares during the last quarter. 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 purchasing an additional 400 shares during the period. KBC Group NV grew its holdings in Patterson Companies by 32.7% in the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after buying an additional 680 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Patterson Companies during the 3rd quarter valued at $65,000. 85.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on PDCO shares. Robert W. Baird raised their price objective on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Evercore ISI lowered their price target on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. Piper Sandler cut their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Leerink Partners reiterated a “market perform” rating and set a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Finally, Morgan Stanley boosted their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.57.

Insider Buying and Selling at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction 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 $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

Patterson Companies Stock Performance

PDCO stock opened at $30.95 on Monday. The company has a 50 day moving average price of $28.79 and a 200 day moving average price of $24.62. The stock has a market capitalization of $2.73 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. 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 (NASDAQ:PDCO) last issued 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 return on equity of 19.77% and a net margin of 2.37%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts forecast that Patterson Companies, Inc. will post 2.25 EPS for the current year.

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.