Contravisory Investment Management Inc. bought a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,610 shares of the company’s stock, valued at approximately $166,000.
Several other hedge funds have also recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in shares of Patterson Companies by 0.3% in the second quarter. California State Teachers Retirement System now owns 136,088 shares of the company’s stock valued at $2,994,000 after buying an additional 443 shares during the last quarter. Mission Wealth Management LP increased its stake in shares of Patterson Companies by 4.6% during the third quarter. Mission Wealth Management LP now owns 12,227 shares of the company’s stock worth $295,000 after acquiring an additional 536 shares during the period. Retirement Systems of Alabama increased its stake in shares of Patterson Companies by 0.6% during the third quarter. Retirement Systems of Alabama now owns 113,215 shares of the company’s stock worth $2,729,000 after acquiring an additional 703 shares during the period. Van ECK Associates Corp increased its stake in shares of Patterson Companies by 1.5% during the third quarter. Van ECK Associates Corp now owns 63,004 shares of the company’s stock worth $1,519,000 after acquiring an additional 950 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Patterson Companies by 1.3% during the second quarter. Public Employees Retirement System of Ohio now owns 121,112 shares of the company’s stock worth $2,664,000 after acquiring an additional 1,610 shares during the period. Hedge funds and other institutional investors own 89.51% of the company’s stock.
PDCO has been the topic of several recent analyst reports. Piper Sandler upped their target price on shares of Patterson Companies from $25.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 2nd. Guggenheim lowered shares of Patterson Companies from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 10th. Barclays upped their target price on shares of Patterson Companies from $21.00 to $25.00 and gave the stock an “underweight” rating in a research report on Thursday, December 3rd. ValuEngine lowered shares of Patterson Companies from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 5th. Finally, BidaskClub lowered shares of Patterson Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, January 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $26.13.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Tuesday, December 1st. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.25. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.42 billion. Patterson Companies had a negative net margin of 10.99% and a positive return on equity of 13.30%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $3.10 EPS. Equities analysts forecast that Patterson Companies, Inc. will post 1.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Thursday, January 14th. Patterson Companies’s dividend payout ratio is currently 67.10%.
Patterson Companies Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through three segments; Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; technology solutions, such as practice management software and e-commerce solutions; patient education systems; and office forms and stationery.
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