Legato Capital Management LLC Increases Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Legato Capital Management LLC lifted its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 41.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,789 shares of the company’s stock after acquiring an additional 6,679 shares during the quarter. Legato Capital Management LLC’s holdings in Patterson Companies were worth $703,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Patterson Companies by 31.5% during the third quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock worth $726,000 after acquiring an additional 7,969 shares during the last quarter. Equity Investment Corp increased its position in shares of Patterson Companies by 10.6% during the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after acquiring an additional 166,899 shares during the last quarter. Goodman Financial Corp grew its stake in Patterson Companies by 19.1% in the third quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after purchasing an additional 86,972 shares in the last quarter. Mork Capital Management LLC grew its stake in Patterson Companies by 142.9% in the third quarter. Mork Capital Management LLC now owns 84,980 shares of the company’s stock worth $1,856,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Barclays PLC grew its stake in Patterson Companies by 37.2% in the third quarter. Barclays PLC now owns 165,715 shares of the company’s stock worth $3,619,000 after purchasing an additional 44,906 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $31.04 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $30.29 and a two-hundred day moving average of $24.92. Patterson Companies, Inc. has a 52 week low of $19.45 and a 52 week high of $31.79. The company has a market cap of $2.74 billion, a P/E ratio of 18.15, a PEG ratio of 2.70 and a beta of 0.90.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to analyst estimates 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 was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, analysts anticipate that Patterson Companies, Inc. will post 2.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PDCO shares. Leerink Partners reiterated a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Robert W. Baird lifted their price target on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Mizuho started coverage on Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target for the company. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus decreased their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.57.

Insider Transactions at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Patterson Companies Company 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.