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

Mission Wealth Management LP reduced its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Values First Advisors Inc. boosted its holdings in Patterson Companies by 2.9% in the 4th quarter. Values First Advisors Inc. now owns 11,961 shares of the company’s stock valued at $369,000 after purchasing an additional 337 shares during the period. Anchor Investment Management LLC raised its position 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 in the last quarter. Blue Trust Inc. boosted its stake in Patterson Companies by 18.0% during the fourth quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock valued at $84,000 after buying an additional 417 shares during the period. Spire Wealth Management grew its position in Patterson Companies by 11.2% during the fourth quarter. Spire Wealth Management now owns 4,160 shares of the company’s stock worth $128,000 after buying an additional 419 shares in the last quarter. Finally, US Bancorp DE increased its stake in Patterson Companies by 1.6% in the 4th quarter. US Bancorp DE now owns 32,767 shares of the company’s stock worth $1,011,000 after acquiring an additional 514 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Down 0.0 %

Shares of NASDAQ:PDCO opened at $31.13 on Wednesday. The stock has a market capitalization of $2.75 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The stock’s 50-day moving average price is $30.96 and its 200-day moving average price is $25.55. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last issued its 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). 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 firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. On average, equities analysts anticipate that Patterson Companies, Inc. will post 2.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PDCO. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Piper Sandler cut their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Robert W. Baird increased their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Morgan Stanley lifted their price objective 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. Finally, Mizuho began coverage on Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.57.

Insider Activity at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

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.