Norges Bank Takes $2.17 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Norges Bank purchased a new position in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,289 shares of the company's stock, valued at approximately $2,169,000. Norges Bank owned approximately 0.08% of Patterson Companies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PDCO. BNP Paribas Financial Markets increased its stake in Patterson Companies by 31.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company's stock worth $726,000 after buying an additional 7,969 shares in the last quarter. Barclays PLC raised its stake in shares of Patterson Companies by 37.2% in the third quarter. Barclays PLC now owns 165,715 shares of the company's stock valued at $3,619,000 after acquiring an additional 44,906 shares in the last quarter. EMC Capital Management grew its holdings in Patterson Companies by 600.7% during the 4th quarter. EMC Capital Management now owns 16,053 shares of the company's stock worth $495,000 after acquiring an additional 13,762 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 valued at $55,546,000 after purchasing an additional 245,376 shares during the last quarter. Finally, Tritonpoint Wealth LLC purchased a new stake in shares of Patterson Companies in the 4th quarter valued at about $264,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Price Performance

Patterson Companies stock traded up $0.01 during trading hours on Thursday, hitting $31.33. 9,359,303 shares of the stock were exchanged, compared to its average volume of 1,206,191. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79. The stock has a market capitalization 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 business's 50-day moving average is $31.13 and its two-hundred day moving average is $27.47.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Patterson Companies in a report on Saturday, April 12th. They issued a "hold" rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Patterson Companies 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.