Riverbridge Partners Lowers stake in Patterson Companies (PDCO)

Patterson Companies (PDCO) : Riverbridge Partners reduced its stake in Patterson Companies by 1.05% during the most recent quarter end. The investment management company now holds a total of 864,544 shares of Patterson Companies which is valued at $42,518,274 after selling 9,140 shares in Patterson Companies , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Patterson Companies makes up approximately 0.86% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , Uss Investment Management Ltd reduced its stake in PDCO by selling 4,700 shares or 3.24% in the most recent quarter. The Hedge Fund company now holds 140,201 shares of PDCO which is valued at $6,895,085. Patterson Companies makes up approx 0.11% of Uss Investment Management Ltd’s portfolio.Jlb Associates Inc reduced its stake in PDCO by selling 669 shares or 1.02% in the most recent quarter. The Hedge Fund company now holds 65,237 shares of PDCO which is valued at $3,229,884. Patterson Companies makes up approx 0.89% of Jlb Associates Inc’s portfolio.Gulf International Bank (uk) Ltd reduced its stake in PDCO by selling 400 shares or 1.46% in the most recent quarter. The Hedge Fund company now holds 26,934 shares of PDCO which is valued at $1,329,462. Patterson Companies makes up approx 0.02% of Gulf International Bank (uk) Ltd’s portfolio. Pensionfund Sabic sold out all of its stake in PDCO during the most recent quarter. The investment firm sold 31,000 shares of PDCO which is valued $1,498,540.

Patterson Companies closed down -1.82 points or -3.70% at $47.36 with 18,47,860 shares getting traded on Thursday. Post opening the session at $48.88, the shares hit an intraday low of $46.83 and an intraday high of $48.9825 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Patterson Companies reported $0.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 26, 2016. Analyst had a consensus of $0.75. The company had revenue of $1453.70 million for the quarter, compared to analysts expectations of $1464.59 million. The company’s revenue was up 40.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Patterson Companies Inc. is a distributor serving the dental veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply veterinary supply and rehabilitation supply. The Company’s dental supply segment provides consumable products (including x-ray film restorative materials hand instruments and sterilization products); basic and advanced technology dental equipment; practice management and clinical software; patient education systems and office forms and stationery. The Company’s veterinary supply segment distributes veterinary supplies to companion-pet (dogs cats and other common household pets) equine and large animal veterinarians and veterinary clinics public and private institutions and shelters across the United States and in the United Kingdom. The rehabilitation supply segment distributes rehabilitation medical supplies and equipment.

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