Patterson Companies, Inc. (PDCO) Position Lifted by Riverhead Capital Management LLC
Riverhead Capital Management LLC increased its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 62.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,300 shares of the company’s stock after acquiring an additional 2,800 shares during the quarter. Riverhead Capital Management LLC’s holdings in Patterson Companies were worth $165,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in PDCO. FMR LLC increased its holdings in Patterson Companies by 100.5% in the second quarter. FMR LLC now owns 4,692,969 shares of the company’s stock valued at $106,389,000 after buying an additional 2,352,041 shares during the last quarter. BlackRock Inc. increased its holdings in Patterson Companies by 31.3% in the second quarter. BlackRock Inc. now owns 9,003,165 shares of the company’s stock valued at $204,103,000 after buying an additional 2,146,696 shares during the last quarter. Alps Advisors Inc. bought a new stake in Patterson Companies in the second quarter valued at about $48,813,000. Thompson Siegel & Walmsley LLC increased its holdings in Patterson Companies by 90.5% in the first quarter. Thompson Siegel & Walmsley LLC now owns 1,934,238 shares of the company’s stock valued at $42,998,000 after buying an additional 918,887 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Patterson Companies by 187.9% in the second quarter. First Trust Advisors LP now owns 1,295,766 shares of the company’s stock valued at $29,375,000 after buying an additional 845,635 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.
PDCO has been the subject of several research analyst reports. Bank of America lowered their price objective on Patterson Companies from $22.00 to $20.00 and set an “underperform” rating for the company in a report on Tuesday, May 29th. Zacks Investment Research raised Patterson Companies from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday, August 22nd. Stifel Nicolaus lowered their target price on Patterson Companies from $28.00 to $23.00 and set a “hold” rating for the company in a report on Monday, June 18th. Leerink Swann began coverage on Patterson Companies in a report on Friday, August 10th. They set a “market perform” rating and a $25.00 target price for the company. Finally, BidaskClub lowered Patterson Companies from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.32.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts anticipate that Patterson Companies, Inc. will post 1.43 EPS for the current year.
Patterson Companies Company Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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