Patterson Companies, Inc. (PDCO) Misses Earnings Estimates, Shares Tumble

At the end of the second quarter, GAMCO Investors, managed by Mario Gabelli, was the most bullish firm on Patterson Companies, Inc. (NASDAQ:PDCO) in our database, holding 1.85 million shares valued at $90.11 million. Tamarack Capital Management, led by Justin John Ferayorni, raised its stake by 169% during the quarter to close it with 855,000 shares with a market value of $41.60 million. There were several other shareholders that were quite bullish on the stock, raising their stakes by more than 1,500% during the quarter. These include billionaire Israel Englander’s Millennium Management, billionaire Ken Griffin’s Citadel Investment Group, and Two Sigma Advisors, managed by John Overdeck and David Siegel. Out of the funds tracked by Insider Monkey, Renaissance Technologies, headed by Jim Simons, emerged as the hedge fund that initiated the biggest new position, closing the quarter with 264,104 shares worth $12.85 million.

Although Patterson Companies, Inc. (NASDAQ:PDCO) missed analysts’ estimates in its earnings results, its performance represented good improvement over the same quarter last year. With insiders also keeping their shares and hedge funds being conspicuously bullish on the stock, Insider Monkey can confidently say that the stock is a good one to buy.

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