1620 Investment Advisors Inc. purchased a new stake in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,261 shares of the company's stock, valued at approximately $440,000.
A number of other hedge funds have also recently bought and sold shares of PDCO. Values First Advisors Inc. lifted its position in shares of Patterson Companies by 2.9% during the fourth quarter. Values First Advisors Inc. now owns 11,961 shares of the company's stock worth $369,000 after purchasing an additional 337 shares during the last quarter. Anchor Investment Management LLC raised its stake in Patterson Companies by 20.5% during the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company's stock valued at $51,000 after buying an additional 400 shares in the last quarter. 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 last quarter. Spire Wealth Management grew its position in shares of Patterson Companies by 11.2% in the 4th quarter. Spire Wealth Management now owns 4,160 shares of the company's stock worth $128,000 after acquiring an additional 419 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Patterson Companies by 1.6% in the 4th quarter. US Bancorp DE now owns 32,767 shares of the company's stock valued at $1,011,000 after acquiring an additional 514 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on PDCO. Leerink Partnrs downgraded shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Robert W. Baird lifted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Mizuho initiated coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price objective on the stock. Piper Sandler decreased their target price on Patterson Companies from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, December 6th. Finally, Morgan Stanley upped their target price on Patterson Companies from $27.00 to $31.35 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $26.57.
Read Our Latest Analysis on Patterson Companies
Patterson Companies Stock Performance
PDCO traded up $0.04 during trading hours on Tuesday, hitting $31.24. The company's stock had a trading volume of 662,540 shares, compared to its average volume of 1,020,775. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The company has a 50-day simple moving average of $31.05 and a 200 day simple moving average of $26.37. The firm has a market capitalization of $2.76 billion, a PE ratio of 18.27, a PEG ratio of 2.71 and a beta of 0.99.
Patterson Companies Company Profile
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Free Report)
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.
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