Nisa Investment Advisors LLC Lowers Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Nisa Investment Advisors LLC trimmed its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 9.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 21,981 shares of the company’s stock after selling 2,230 shares during the period. Nisa Investment Advisors LLC’s holdings in Patterson Companies were worth $625,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PDCO. Raymond James Financial Services Advisors Inc. purchased a new position in Patterson Companies in the first quarter worth approximately $266,000. PNC Financial Services Group Inc. lifted its stake in Patterson Companies by 89.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,266 shares of the company’s stock worth $203,000 after purchasing an additional 2,966 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Patterson Companies by 40.4% during the first quarter. MetLife Investment Management LLC now owns 102,249 shares of the company’s stock worth $3,310,000 after purchasing an additional 29,446 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Patterson Companies by 10.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,801 shares of the company’s stock worth $1,029,000 after purchasing an additional 3,084 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Patterson Companies by 12.0% during the first quarter. Great West Life Assurance Co. Can now owns 52,913 shares of the company’s stock worth $1,763,000 after purchasing an additional 5,655 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Stock Up 1.1 %

Shares of NASDAQ PDCO opened at $25.63 on Wednesday. The stock has a market cap of $2.30 billion, a P/E ratio of 12.63, a PEG ratio of 1.34 and a beta of 1.06. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. Patterson Companies, Inc. has a 12-month low of $25.00 and a 12-month high of $34.53. The business’s fifty day simple moving average is $27.31 and its 200-day simple moving average is $28.73.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.63 billion. Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share. As a group, equities analysts predict that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, April 18th. Patterson Companies’s dividend payout ratio is presently 51.23%.

Analysts Set New Price Targets

A number of research analysts have commented on PDCO shares. JPMorgan Chase & Co. decreased their price target on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Piper Sandler cut Patterson Companies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th. Finally, SVB Leerink started coverage on Patterson Companies in a research note on Monday, February 26th. They set an “outperform” rating and a $36.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.11.

Patterson Companies 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.