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Pick Up This Bargain Even Cheaper Than Director Rudnick Did

By Market News Video Staff, Tuesday, November 22, 12:06 PM ET
Play Video: One Reason For Insiders to Buy

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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on September 8, Patterson Companies Inc's Director, Ellen A Rudnick, invested $56,800.00 into 2,000 shares of PDCO, for a cost per share of $28.40. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Tuesday, bargain hunters could buy shares of Patterson Companies Inc (NASDAQ:PDCO) and achieve a cost basis 3.2% cheaper than Rudnick, with shares changing hands as low as $27.48 per share. It should be noted that Rudnick has collected $0.12/share in dividends since the time of their purchase, so they are currently down 2.8% on their purchase from a total return basis. Patterson Companies Inc shares are currently trading down about 4.4% on the day. The chart below shows the one year performance of PDCO shares, versus its 200 day moving average:

Patterson Companies Inc Chart

Looking at the chart above, PDCO's low point in its 52 week range is $26.19 per share, with $36.93 as the 52 week high point that compares with a last trade of $28.03. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
08/30/2011 John D Buck Director 1,500 $28.22 $42,330.00
09/08/2011 Ellen A Rudnick Director 2,000 $28.40 $56,800.00

PDCO makes up 2.22% of the Rydex S&P 500 Equal Weight Health Care ETF (AMEX:RYH)

PDCO operates in the Drugs & Pharmaceuticals sector, among companies like Aegerion Pharmaceuticals Inc (NASDAQ:AEGR) which is trading flat today, and MAP Pharmaceuticals Inc (MAPP) trading higher by about 0.4%. Below is a three month price history chart comparing the stock performance of PDCO, versus AEGR and MAPP.

PDCO,AEGR,MAPP Relative Performance Chart


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This Article's Word Cloud:   AEGR   Companies   Director   Ellen   MAPP   PDCO   Patterson   Pharmaceuticals   Rudnick   Share   Trial   about   asset   basis   below   buying   cash   changing   chart   cost   currently   designed   down   earned   hunters   insider   last   like   makes   many   only   performance   point   portfolio   program   purchase   reason   share   shares   stock   that   their   there   they   this   trading   versus   week   which   with
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