Alpine Associates Management Inc. Takes Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Alpine Associates Management Inc. bought a new stake in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 342,874 shares of the company's stock, valued at approximately $10,581,000. Alpine Associates Management Inc. owned 0.39% of Patterson Companies at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. increased its holdings in shares of Patterson Companies by 2.9% in the fourth quarter. Values First Advisors Inc. now owns 11,961 shares of the company's stock valued at $369,000 after purchasing an additional 337 shares during the period. Anchor Investment Management LLC increased its stake in shares of Patterson Companies by 20.5% during the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company's stock worth $51,000 after purchasing an additional 400 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Patterson Companies by 18.0% in the fourth quarter. Blue Trust Inc. now owns 2,738 shares of the company's stock valued at $84,000 after acquiring an additional 417 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Patterson Companies by 11.2% during the fourth quarter. Spire Wealth Management now owns 4,160 shares of the company's stock worth $128,000 after buying an additional 419 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Patterson Companies by 1.6% during the 4th quarter. US Bancorp DE now owns 32,767 shares of the company's stock worth $1,011,000 after purchasing an additional 514 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

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Patterson Companies Price Performance

Patterson Companies stock remained flat at $31.14 during midday trading on Thursday. 948,508 shares of the company traded hands, compared to its average volume of 1,019,490. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79. The firm has a 50 day moving average price of $30.99 and a two-hundred day moving average price of $25.81. The stock has a market capitalization of $2.76 billion, a PE ratio of 18.21, a PEG ratio of 2.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

Analysts Set New Price Targets

PDCO has been the subject of a number of research reports. Morgan Stanley boosted their price target on Patterson Companies from $27.00 to $31.35 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Piper Sandler reduced their target price on Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, December 6th. 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 began coverage on Patterson Companies in a research note on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price objective for the company. Finally, Leerink Partners reaffirmed a "market perform" rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.57.

Patterson Companies 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.