Engineers Gate Manager LP Invests $5.93 Million in Patterson Companies, Inc. (PDCO)
Engineers Gate Manager LP purchased a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 153,414 shares of the company’s stock, valued at approximately $5,929,000. Patterson Companies makes up approximately 0.5% of Engineers Gate Manager LP’s investment portfolio, making the stock its 18th biggest position. Engineers Gate Manager LP owned about 0.16% of Patterson Companies as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Epoch Investment Partners Inc. boosted its position in shares of Patterson Companies by 1.8% during the third quarter. Epoch Investment Partners Inc. now owns 609,511 shares of the company’s stock valued at $23,557,000 after purchasing an additional 10,677 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Patterson Companies by 3.7% during the third quarter. Stifel Financial Corp now owns 44,467 shares of the company’s stock valued at $1,722,000 after purchasing an additional 1,571 shares in the last quarter. Tredje AP fonden boosted its position in shares of Patterson Companies by 201.8% during the third quarter. Tredje AP fonden now owns 16,360 shares of the company’s stock valued at $632,000 after purchasing an additional 10,940 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Patterson Companies by 6.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,151,446 shares of the company’s stock valued at $44,504,000 after purchasing an additional 74,049 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Patterson Companies by 32.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 516,832 shares of the company’s stock valued at $19,976,000 after purchasing an additional 127,280 shares in the last quarter. Institutional investors own 93.36% of the company’s stock.
Patterson Companies, Inc. (PDCO) opened at $37.30 on Tuesday. Patterson Companies, Inc. has a one year low of $32.07 and a one year high of $48.29. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3,391.43, a price-to-earnings ratio of 15.95, a PEG ratio of 2.02 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. research analysts expect that Patterson Companies, Inc. will post 2.06 EPS for the current fiscal year.
In other Patterson Companies news, Director John D. Buck purchased 2,834 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was purchased at an average price of $34.93 per share, for a total transaction of $98,991.62. Following the completion of the purchase, the director now directly owns 54,627 shares of the company’s stock, valued at $1,908,121.11. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ann B. Gugino sold 750 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total value of $27,547.50. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.
PDCO has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price objective on Patterson Companies from $39.00 to $34.00 and set a “sell” rating for the company in a research note on Tuesday, August 15th. Craig Hallum reiterated a “sell” rating and set a $41.00 price objective (down previously from $46.00) on shares of Patterson Companies in a research note on Thursday, August 17th. They noted that the move was a valuation call. Cleveland Research reiterated a “hold” rating on shares of Patterson Companies in a research note on Tuesday, August 22nd. UBS upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $40.00 price objective for the company in a research note on Friday, August 25th. Finally, TheStreet cut Patterson Companies from a “b-” rating to a “c” rating in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Patterson Companies has a consensus rating of “Hold” and an average price target of $41.20.
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About Patterson Companies
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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