Allianz Asset Management GmbH Purchases 42,689 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Allianz Asset Management GmbH grew its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,186,906 shares of the company’s stock after buying an additional 42,689 shares during the period. Allianz Asset Management GmbH owned approximately 1.34% of Patterson Companies worth $36,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new position in shares of Patterson Companies in the fourth quarter valued at about $785,000. Handelsbanken Fonder AB grew its position in shares of Patterson Companies by 25.6% during the 4th quarter. Handelsbanken Fonder AB now owns 25,500 shares of the company’s stock worth $787,000 after purchasing an additional 5,200 shares in the last quarter. LMG Wealth Partners LLC bought a new position in shares of Patterson Companies during the fourth quarter worth approximately $284,000. Ieq Capital LLC bought a new position in Patterson Companies during the 4th quarter worth $316,000. Finally, Kestra Investment Management LLC acquired a new position in Patterson Companies in the 4th quarter valued at $217,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $31.07 on Monday. The company’s 50 day moving average price is $30.93 and its two-hundred day moving average price is $25.21. The firm has a market capitalization of $2.74 billion, a P/E 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 current ratio of 1.37 and a quick ratio of 0.76. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79.

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

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

PDCO has been the subject of a number of analyst reports. Piper Sandler dropped their price target on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Mizuho began coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price on the stock. Leerink Partners reaffirmed a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Stifel Nicolaus decreased their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. Finally, Morgan Stanley boosted their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.57.

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.