Comerica Bank decreased its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,205 shares of the company’s stock after selling 9,140 shares during the quarter. Comerica Bank owned approximately 0.06% of Patterson Companies worth $1,248,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of PDCO. Principal Financial Group Inc. boosted its stake in shares of Patterson Companies by 182.5% during the 1st quarter. Principal Financial Group Inc. now owns 364,937 shares of the company’s stock worth $8,112,000 after purchasing an additional 235,760 shares during the period. Bank of Montreal Can boosted its stake in shares of Patterson Companies by 210.4% during the 2nd quarter. Bank of Montreal Can now owns 27,715 shares of the company’s stock worth $628,000 after purchasing an additional 18,786 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Patterson Companies during the 2nd quarter worth about $389,000. Aperio Group LLC boosted its stake in shares of Patterson Companies by 476.1% during the 2nd quarter. Aperio Group LLC now owns 153,688 shares of the company’s stock worth $3,484,000 after purchasing an additional 127,012 shares during the period. Finally, Alps Advisors Inc. purchased a new position in shares of Patterson Companies during the 2nd quarter worth about $48,813,000.
A number of equities analysts recently commented on the stock. ValuEngine cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research reissued a “hold” rating on shares of Patterson Companies in a research report on Wednesday, November 14th. BidaskClub cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Leerink Swann assumed coverage on shares of Patterson Companies in a research report on Friday, August 10th. They issued a “market perform” rating and a $25.00 price objective for the company. Finally, Barclays lowered their price objective on shares of Patterson Companies from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, August 31st. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.58.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, December 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Patterson Companies had a net margin of 3.01% and a return on equity of 9.71%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. As a group, research analysts expect that Patterson Companies, Inc. will post 1.42 earnings per share for the current fiscal year.
About Patterson Companies
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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