Patterson Companies, Inc. (NASDAQ:PDCO) Shares Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. raised its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,000 shares of the company's stock after purchasing an additional 52,500 shares during the quarter. Hussman Strategic Advisors Inc. owned 0.11% of Patterson Companies worth $2,987,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PDCO. Signaturefd LLC lifted its position in shares of Patterson Companies by 93.5% in the fourth quarter. Signaturefd LLC now owns 2,107 shares of the company's stock valued at $60,000 after acquiring an additional 1,018 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Patterson Companies by 8.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,292 shares of the company's stock valued at $520,000 after purchasing an additional 1,365 shares during the period. Strs Ohio lifted its holdings in Patterson Companies by 1.4% in the 4th quarter. Strs Ohio now owns 35,300 shares of the company's stock worth $1,004,000 after purchasing an additional 500 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Patterson Companies in the 4th quarter worth approximately $680,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Patterson Companies by 4.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,748,158 shares of the company's stock worth $49,735,000 after purchasing an additional 78,134 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Price Performance

Shares of NASDAQ PDCO traded up $0.55 during mid-day trading on Friday, hitting $26.02. 533,065 shares of the company's stock traded hands, compared to its average volume of 573,498. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.72. Patterson Companies, Inc. has a 1 year low of $25.00 and a 1 year high of $34.53. The company's 50-day moving average is $27.13 and its two-hundred day moving average is $28.64. The company has a market capitalization of $2.33 billion, a P/E ratio of 12.82, a PEG ratio of 1.37 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The company had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. Patterson Companies's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. On average, equities analysts anticipate that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 annualized dividend and a yield of 4.00%. Patterson Companies's payout ratio is 51.23%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Patterson Companies from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 6th. Piper Sandler downgraded shares of Patterson Companies from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $34.00 to $28.00 in a report on Thursday, February 29th. SVB Leerink assumed coverage on shares of Patterson Companies in a report on Monday, February 26th. They set an "outperform" rating and a $36.00 price objective for the company. Finally, Leerink Partnrs reaffirmed an "outperform" rating on shares of Patterson Companies in a report on Monday, February 26th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Patterson Companies has a consensus rating of "Hold" and a consensus price target 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.