Allspring Global Investments Holdings LLC Has $51.95 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Allspring Global Investments Holdings LLC cut its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 22.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,686,523 shares of the company’s stock after selling 497,417 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.91% of Patterson Companies worth $51,945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after buying an additional 680 shares during the period. International Assets Investment Management LLC lifted its holdings in Patterson Companies by 2,084.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after buying an additional 2,084 shares during the period. Anchor Investment Management LLC lifted its holdings in Patterson Companies by 20.5% during the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after buying an additional 400 shares during the period. Blue Trust Inc. lifted its holdings in Patterson Companies by 18.0% during the 4th quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock worth $84,000 after buying an additional 417 shares during the period. Finally, KBC Group NV lifted its holdings in Patterson Companies by 32.7% during the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after buying an additional 680 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $31.04 on Friday. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $31.79. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.70 and a beta of 0.90. The business has a 50-day simple moving average of $30.29 and a 200 day simple moving average of $24.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. On average, research analysts anticipate that Patterson Companies, Inc. will post 2.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Mizuho assumed coverage on Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price objective on the stock. Leerink Partners reissued a “market perform” rating and issued a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Robert W. Baird boosted their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Stifel Nicolaus dropped their price objective on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. Finally, Morgan Stanley boosted their price objective on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.57.

Insiders Place Their Bets

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the sale, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

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.