Natixis Advisors LLC acquired a new stake in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,663 shares of the company's stock, valued at approximately $329,000.
A number of other hedge funds have also modified their holdings of PDCO. Equity Investment Corp grew its position in Patterson Companies by 16.6% during the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company's stock worth $62,614,000 after purchasing an additional 289,295 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Patterson Companies by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company's stock worth $55,546,000 after buying an additional 245,376 shares during the last quarter. Bank of New York Mellon Corp increased its position in Patterson Companies by 18.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company's stock valued at $44,924,000 after acquiring an additional 222,005 shares during the period. Allianz Asset Management GmbH raised its stake in Patterson Companies by 3.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,186,906 shares of the company's stock valued at $36,628,000 after acquiring an additional 42,689 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Patterson Companies during the 4th quarter worth approximately $18,316,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Morgan Stanley upped their price target on Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Robert W. Baird raised their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. StockNews.com started coverage on shares of Patterson Companies in a research note on Thursday. They set a "hold" rating on the stock. Stifel Nicolaus reduced their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Thursday, December 5th. Finally, Piper Sandler dropped their target price on Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Patterson Companies has an average rating of "Hold" and an average target price of $26.57.
View Our Latest Research Report on PDCO
Patterson Companies Price Performance
Shares of PDCO stock traded up $0.03 during midday trading on Monday, reaching $31.24. 1,409,482 shares of the company traded hands, compared to its average volume of 1,057,826. The firm has a market cap of $2.76 billion, a PE ratio of 18.27, a price-to-earnings-growth 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. The firm's 50 day simple moving average is $31.08 and its two-hundred day simple moving average is $26.67. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79.
About Patterson Companies
(
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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