Patterson Companies, Inc. (NASDAQ:PDCO) Position Raised by Legato Capital Management LLC

Legato Capital Management LLC increased its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 41.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,789 shares of the company’s stock after purchasing an additional 6,679 shares during the period. Legato Capital Management LLC’s holdings in Patterson Companies were worth $703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDCO. Hotchkis & Wiley Capital Management LLC bought a new stake in Patterson Companies during the third quarter worth approximately $11,183,000. Royce & Associates LP bought a new stake in Patterson Companies during the third quarter worth approximately $6,807,000. Allspring Global Investments Holdings LLC raised its holdings in Patterson Companies by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock worth $47,697,000 after purchasing an additional 258,042 shares in the last quarter. Equity Investment Corp raised its holdings in 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 purchasing an additional 166,899 shares in the last quarter. Finally, Kempner Capital Management Inc. bought a new stake in Patterson Companies during the third quarter worth approximately $2,514,000. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Price Performance

Shares of NASDAQ:PDCO opened at $31.04 on Friday. The company’s fifty day moving average is $30.29 and its two-hundred day moving average is $24.92. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $31.79. The company has a market cap of $2.74 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) 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 firm earned $0.50 earnings per share. Patterson Companies’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts expect that Patterson Companies, Inc. will post 2.25 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PDCO. Leerink Partners reaffirmed a “market perform” rating and issued a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Stifel Nicolaus dropped their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Robert W. Baird upped their price target on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Mizuho began coverage on Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Patterson Companies presently 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.