CIBC Asset Management Inc Makes New Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

CIBC Asset Management Inc purchased a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,293 shares of the company’s stock, valued at approximately $256,000.

A number of other large investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after purchasing an additional 680 shares during the period. International Assets Investment Management LLC increased its stake in shares of Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after buying an additional 2,084 shares during the period. Anchor Investment Management LLC raised its holdings 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 valued at $51,000 after acquiring an additional 400 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Patterson Companies by 18.0% in the fourth quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock valued at $84,000 after acquiring an additional 417 shares in the last quarter. Finally, KBC Group NV lifted its stake in Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after acquiring an additional 680 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Insider Activity

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction dated 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 sale, the chief executive officer now owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PDCO shares. Piper Sandler reduced their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Morgan Stanley boosted their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Leerink Partners reaffirmed a “market perform” rating and set a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus dropped their price objective on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, December 5th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Patterson Companies presently has a consensus rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $31.07 on Tuesday. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The company has a market cap of $2.74 billion, a PE ratio of 18.17, a P/E/G ratio of 2.71 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The business has a 50-day simple moving average of $30.93 and a two-hundred day simple moving average of $25.22.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. As a group, equities analysts expect that Patterson Companies, Inc. will post 2.25 EPS for the current fiscal year.

Patterson Companies 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.