Patterson Companies, Inc. (NASDAQ:PDCO) Shares Purchased by Mission Wealth Management LP

Mission Wealth Management LP raised its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 5.0% during the 4th quarter, HoldingsChannel reports. The firm owned 39,016 shares of the company’s stock after acquiring an additional 1,869 shares during the quarter. Mission Wealth Management LP’s holdings in Patterson Companies were worth $1,110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in shares of Patterson Companies in the fourth quarter valued at $92,000. K.J. Harrison & Partners Inc purchased a new position in Patterson Companies in the 4th quarter valued at about $711,000. Meritage Portfolio Management grew its stake in shares of Patterson Companies by 29.4% during the fourth quarter. Meritage Portfolio Management now owns 104,092 shares of the company’s stock valued at $2,961,000 after acquiring an additional 23,629 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Patterson Companies during the fourth quarter worth about $242,000. Finally, GAMMA Investing LLC acquired a new position in shares of Patterson Companies in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Analyst Ratings Changes

PDCO has been the topic of several analyst reports. Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a report on Monday, February 26th. JPMorgan Chase & Co. cut their price target on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. SVB Leerink started coverage on shares of Patterson Companies in a research note on Monday, February 26th. They set an “outperform” rating and a $36.00 price objective on the stock. Piper Sandler lowered shares of Patterson Companies from an “overweight” rating to a “neutral” rating and cut their target price for the company from $34.00 to $28.00 in a research note on Thursday, February 29th. Finally, Evercore ISI lowered their price objective on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.56.

Patterson Companies Trading Down 0.1 %

Patterson Companies stock opened at $25.45 on Thursday. Patterson Companies, Inc. has a 52-week low of $25.00 and a 52-week high of $34.53. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.34 and a beta of 1.07. The firm has a 50-day moving average price of $26.72 and a two-hundred day moving average price of $28.45.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share (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 business 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 company earned $0.62 earnings per share. The business’s quarterly revenue 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 51.23%.

Patterson Companies Company 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.