Heartland Advisors Inc. Has $12.19 Million Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Heartland Advisors Inc. reduced its holdings in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,000 shares of the company's stock after selling 23,900 shares during the quarter. Heartland Advisors Inc. owned 0.45% of Patterson Companies worth $12,190,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Patterson Companies during the 4th quarter valued at $2,169,000. JPMorgan Chase & Co. raised its holdings in Patterson Companies by 65.0% during the 4th quarter. JPMorgan Chase & Co. now owns 713,048 shares of the company's stock worth $22,005,000 after buying an additional 280,893 shares during the period. Vanguard Group Inc. boosted its stake in Patterson Companies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company's stock worth $290,390,000 after purchasing an additional 47,897 shares during the period. LPL Financial LLC grew its stake in Patterson Companies by 8.1% during the 4th quarter. LPL Financial LLC now owns 18,402 shares of the company's stock valued at $568,000 after acquiring an additional 1,380 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Patterson Companies in the fourth quarter worth approximately $518,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Price Performance

Shares of PDCO stock traded up $0.02 during mid-day trading on Tuesday, reaching $31.26. The company's stock had a trading volume of 239,531 shares, compared to its average volume of 1,054,635. The firm's 50-day moving average is $31.08 and its two-hundred day moving average is $26.67. The company has a market cap of $2.77 billion, a P/E ratio of 18.28, a PEG ratio of 2.71 and a beta of 0.99. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37.

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Analyst Ratings Changes

Several research analysts have weighed in on PDCO shares. Mizuho began coverage on Patterson Companies in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $23.00 target price on the stock. StockNews.com initiated coverage on Patterson Companies in a report on Thursday, March 27th. They issued a "hold" rating for the company. Stifel Nicolaus lowered their price target on Patterson Companies from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Thursday, December 5th. Leerink Partnrs cut shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird boosted their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Patterson Companies currently has a consensus rating of "Hold" and a consensus price target 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.