Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Patterson Companies, Inc. (NASDAQ:PDCOFree Report) by 8.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,292 shares of the company’s stock after purchasing an additional 1,365 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Patterson Companies were worth $520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PDCO. Fifth Third Bancorp boosted its holdings in Patterson Companies by 54.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after buying an additional 434 shares during the period. Anchor Investment Management LLC bought a new position in Patterson Companies in the 4th quarter worth $55,000. Huntington National Bank boosted its holdings in Patterson Companies by 57.0% in the 3rd quarter. Huntington National Bank now owns 2,737 shares of the company’s stock worth $81,000 after buying an additional 994 shares during the period. International Assets Investment Management LLC boosted its holdings in Patterson Companies by 5,021.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,121 shares of the company’s stock worth $146,000 after buying an additional 5,021 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Patterson Companies in the 3rd quarter worth $206,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Stock Down 0.1 %

PDCO opened at $25.43 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. Patterson Companies, Inc. has a 52 week low of $25.00 and a 52 week high of $34.53. The firm has a 50-day simple moving average of $26.66 and a two-hundred day simple moving average of $28.43. The company has a market capitalization of $2.28 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.34 and a beta of 1.07.

Patterson Companies (NASDAQ:PDCOGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business posted $0.62 EPS. The firm’s revenue was up .9% on a year-over-year basis. Analysts forecast that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, April 18th. Patterson Companies’s payout ratio is 51.23%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. SVB Leerink assumed coverage on shares of Patterson Companies in a report on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Piper Sandler downgraded shares of Patterson Companies from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $28.00 in a report on Thursday, February 29th. Evercore ISI dropped their price objective on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Patterson Companies has an average rating of “Hold” and an average target price of $32.56.

Get Our Latest Research Report on PDCO

Patterson Companies Profile

(Free Report)

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.

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

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