Bank of New York Mellon Corp Has $36.99 Million Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Bank of New York Mellon Corp raised its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO – Get Rating) by 2.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,539,952 shares of the company’s stock after purchasing an additional 40,499 shares during the period. Bank of New York Mellon Corp’s holdings in Patterson Companies were worth $36,990,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PDCO. Meeder Asset Management Inc. grew its position in Patterson Companies by 145.5% during the second quarter. Meeder Asset Management Inc. now owns 891 shares of the company’s stock valued at $27,000 after purchasing an additional 528 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Patterson Companies by 74.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,120 shares of the company’s stock valued at $26,000 after buying an additional 478 shares during the period. Ronald Blue Trust Inc. purchased a new position in shares of Patterson Companies during the 2nd quarter valued at $58,000. Captrust Financial Advisors grew its holdings in shares of Patterson Companies by 28.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock valued at $55,000 after acquiring an additional 405 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Patterson Companies by 60.0% during the third quarter. National Bank of Canada FI now owns 2,000 shares of the company’s stock worth $42,000 after acquiring an additional 750 shares in the last quarter. Institutional investors and hedge funds own 81.09% of the company’s stock.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $26.14 on Tuesday. The firm has a market capitalization of $2.55 billion, a PE ratio of 13.07, a PEG ratio of 1.60 and a beta of 1.29. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. Patterson Companies, Inc. has a 1 year low of $23.87 and a 1 year high of $35.29. The firm’s fifty day simple moving average is $28.64 and its 200 day simple moving average is $27.71.

Patterson Companies (NASDAQ:PDCO – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. Patterson Companies had a return on equity of 21.30% and a net margin of 3.08%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Patterson Companies, Inc. will post 2.28 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Piper Sandler boosted their target price on Patterson Companies from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, February 6th. StockNews.com upgraded Patterson Companies from a “hold” rating to a “buy” rating in a report on Friday, March 3rd. Credit Suisse Group lifted their target price on shares of Patterson Companies to $39.00 and gave the company an “outperform” rating in a research note on Monday, November 28th. TheStreet upgraded shares of Patterson Companies from a “c+” rating to a “b” rating in a report on Thursday, December 1st. Finally, Evercore ISI increased their target price on shares of Patterson Companies to $30.00 in a research report on Friday, December 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.17.

Patterson Companies Profile

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Patterson Cos., Inc provides products, technologies, services, and business solutions to the dental and animal health markets. It operates through the following segments: Dental, Animal Health, and Corporate. The Dental segment provides consumable dental products, equipment and software, turnkey digital solutions, and value-added services to dentists, dental laboratories, institutions, and other healthcare professionals.