Envestnet Asset Management Inc. Sells 15,829 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Envestnet Asset Management Inc. trimmed its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 149,840 shares of the company's stock after selling 15,829 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of Patterson Companies worth $4,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Patterson Companies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company's stock valued at $290,390,000 after buying an additional 47,897 shares during the last quarter. American Century Companies Inc. lifted its stake in Patterson Companies by 24.1% during the 4th quarter. American Century Companies Inc. now owns 2,711,030 shares of the company's stock valued at $83,662,000 after acquiring an additional 527,054 shares during the period. Equity Investment Corp boosted its holdings in shares of Patterson Companies by 16.6% during the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company's stock valued at $62,614,000 after acquiring an additional 289,295 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Patterson Companies by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company's stock worth $55,546,000 after acquiring an additional 245,376 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Patterson Companies by 18.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company's stock valued at $44,924,000 after purchasing an additional 222,005 shares during the last quarter. Institutional investors own 85.43% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Patterson Companies in a report on Sunday. They issued a "hold" rating on the stock. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $26.57.

Patterson Companies Price Performance

Shares of PDCO stock opened at $31.33 on Wednesday. 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 12 month low of $19.45 and a 12 month high of $31.79. The stock has a market cap of $2.77 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.71 and a beta of 0.73. The company has a 50 day simple moving average of $31.15 and a two-hundred day simple moving average of $27.81.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.