Advisors Asset Management Inc. Grows Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Advisors Asset Management Inc. raised its holdings in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 25.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 217,935 shares of the company's stock after purchasing an additional 44,465 shares during the period. Advisors Asset Management Inc. owned 0.25% of Patterson Companies worth $6,725,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PDCO. Raymond James Financial Inc. acquired a new position in Patterson Companies in the 4th quarter valued at about $18,316,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Patterson Companies during the third quarter valued at approximately $11,183,000. Alpine Associates Management Inc. acquired a new stake in Patterson Companies during the fourth quarter worth approximately $10,581,000. Equity Investment Corp grew its stake in Patterson Companies by 16.6% in the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company's stock worth $62,614,000 after acquiring an additional 289,295 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Patterson Companies by 15.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company's stock valued at $55,546,000 after acquiring an additional 245,376 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Mizuho assumed coverage on Patterson Companies in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $23.00 price objective for the company. StockNews.com assumed coverage on shares of Patterson Companies in a report on Wednesday. They set a "hold" rating on the stock. Morgan Stanley boosted their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Robert W. Baird increased their price target 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. Finally, Leerink Partners reissued a "market perform" rating and set a $31.35 price objective (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $26.57.

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Patterson Companies Stock Down 0.1 %

NASDAQ:PDCO traded down $0.03 during mid-day trading on Friday, hitting $31.16. The company had a trading volume of 2,160,892 shares, compared to its average volume of 1,019,209. The business has a fifty day simple moving average of $31.04 and a 200-day simple moving average of $26.20. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.22, 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 current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34.

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.