GAMMA Investing LLC Buys New Shares in Patterson Companies, Inc. (NASDAQ:PDCO)

GAMMA Investing LLC bought a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,066 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Patterson Companies by 54.8% in the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after purchasing an additional 434 shares in the last quarter. Anchor Investment Management LLC bought a new position in shares of Patterson Companies in the 4th quarter valued at about $55,000. Signaturefd LLC grew its position in shares of Patterson Companies by 93.5% in the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after acquiring an additional 1,018 shares during the period. Huntington National Bank grew its position in shares of Patterson Companies by 57.0% in the 3rd quarter. Huntington National Bank now owns 2,737 shares of the company’s stock valued at $81,000 after acquiring an additional 994 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of 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 valued at $146,000 after acquiring an additional 5,021 shares during the period. Institutional investors own 85.43% of the company’s stock.

Analysts Set New Price Targets

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

Patterson Companies Price Performance

Shares of Patterson Companies stock opened at $25.66 on Monday. Patterson Companies, Inc. has a twelve month low of $25.00 and a twelve month 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 company has a 50-day simple moving average of $26.60 and a two-hundred day simple moving average of $28.36. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $1.63 billion. During the same quarter last year, the firm earned $0.62 EPS. Patterson Companies’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts forecast that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Friday, April 19th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, April 18th. Patterson Companies’s dividend payout ratio (DPR) is 51.23%.

About Patterson Companies

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.