Macquarie Group Ltd. Lowers Position in Patterson Companies, Inc. (PDCO)

Macquarie Group Ltd. reduced its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 63.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 24,775 shares of the company’s stock after selling 42,999 shares during the period. Macquarie Group Ltd.’s holdings in Patterson Companies were worth $958,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PDCO. Advisory Services Network LLC raised its stake in Patterson Companies by 423.4% in the 2nd quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock valued at $118,000 after acquiring an additional 2,041 shares during the period. Commonwealth Bank of Australia increased its position in shares of Patterson Companies by 15.9% during the second quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock valued at $140,000 after buying an additional 415 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Patterson Companies by 4.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock valued at $168,000 after buying an additional 150 shares during the period. Sciencast Management LP bought a new stake in shares of Patterson Companies during the second quarter valued at about $205,000. Finally, GHP Investment Advisors Inc. bought a new stake in shares of Patterson Companies during the third quarter valued at about $212,000. Institutional investors and hedge funds own 93.36% of the company’s stock.

Several brokerages have recently weighed in on PDCO. Deutsche Bank began coverage on Patterson Companies in a research report on Friday. They set a “hold” rating and a $37.00 price target on the stock. BidaskClub cut Patterson Companies from a “hold” rating to a “sell” rating in a research report on Thursday. Morgan Stanley cut Patterson Companies from an “equal weight” rating to an “underweight” rating and set a $42.00 price target on the stock. in a research report on Wednesday, December 6th. Robert W. Baird reiterated a “buy” rating and set a $40.00 price target on shares of Patterson Companies in a research report on Wednesday, November 22nd. Finally, Jefferies Group reiterated a “hold” rating and set a $37.00 price target on shares of Patterson Companies in a research report on Thursday, November 23rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Patterson Companies has an average rating of “Hold” and an average price target of $40.40.

Patterson Companies, Inc. (PDCO) opened at $35.47 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.10. The firm has a market cap of $3,363.41, a P/E ratio of 15.98, a P/E/G ratio of 2.03 and a beta of 0.95. Patterson Companies, Inc. has a 52-week low of $32.07 and a 52-week high of $48.29.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.42 billion. Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. analysts anticipate that Patterson Companies, Inc. will post 2.06 EPS for the current year.

In other Patterson Companies news, CFO Ann B. Gugino sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total value of $27,547.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John D. Buck bought 2,834 shares of the business’s stock in a transaction on Friday, November 24th. The stock was purchased at an average cost of $34.93 per share, with a total value of $98,991.62. Following the purchase, the director now owns 54,627 shares of the company’s stock, valued at $1,908,121.11. The disclosure for this purchase can be found here. 0.46% of the stock is currently owned by corporate insiders.

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Patterson Companies Profile

Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.

Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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