KLP Kapitalforvaltning AS Takes Position in Patterson Companies, Inc. (NASDAQ:PDCO)

KLP Kapitalforvaltning AS acquired a new stake in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,800 shares of the company's stock, valued at approximately $518,000.

Several other large investors have also modified their holdings of PDCO. BNP Paribas Financial Markets raised its position in Patterson Companies by 31.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company's stock valued at $726,000 after purchasing an additional 7,969 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Patterson Companies in the 3rd quarter valued at about $219,000. Verition Fund Management LLC raised its stake in Patterson Companies by 26.9% during the 3rd quarter. Verition Fund Management LLC now owns 59,527 shares of the company's stock valued at $1,300,000 after acquiring an additional 12,633 shares during the last quarter. Holocene Advisors LP acquired a new stake in Patterson Companies during the 3rd quarter worth approximately $1,123,000. Finally, HighTower Advisors LLC grew its stake in shares of Patterson Companies by 144.0% in the 3rd quarter. HighTower Advisors LLC now owns 13,318 shares of the company's stock valued at $301,000 after purchasing an additional 43,572 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Price Performance

PDCO stock traded up $0.21 during midday trading on Tuesday, hitting $31.06. 2,079,025 shares of the stock were exchanged, compared to its average volume of 1,099,673. The stock's 50-day moving average price is $31.10 and its 200-day moving average price is $27.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 2.71 and a beta of 0.73. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird increased their price target on Patterson Companies from $25.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Leerink Partnrs downgraded shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. StockNews.com assumed coverage on shares of Patterson Companies in a research note on Friday. They set a "hold" rating on the stock. Morgan Stanley raised their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Finally, Leerink Partners reiterated a "market perform" rating and set a $31.35 target price (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $26.57.

Patterson Companies Company 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.