Prudential Financial Inc. Sells 203,680 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Prudential Financial Inc. reduced its holdings in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 71.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,624 shares of the company's stock after selling 203,680 shares during the quarter. Prudential Financial Inc. owned 0.09% of Patterson Companies worth $2,488,000 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. Harbour Investments Inc. purchased a new position in Patterson Companies in the 4th quarter worth about $26,000. GAMMA Investing LLC increased its position in shares of Patterson Companies by 103.0% in the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company's stock worth $41,000 after acquiring an additional 680 shares in the last quarter. Anchor Investment Management LLC raised its holdings in shares of Patterson Companies by 20.5% during the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company's stock valued at $51,000 after acquiring an additional 400 shares during the period. Blue Trust Inc. lifted its position in shares of Patterson Companies by 18.0% in the 4th quarter. Blue Trust Inc. now owns 2,738 shares of the company's stock valued at $84,000 after acquiring an additional 417 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Patterson Companies in the 3rd quarter worth approximately $65,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Stock Up 0.7 %

NASDAQ:PDCO traded up $0.21 during trading hours on Tuesday, reaching $31.06. The company's stock had a trading volume of 2,079,025 shares, compared to its average volume of 1,099,673. 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 company has a market cap of $2.75 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $31.79. The business's 50-day moving average is $31.10 and its 200-day moving average is $27.09.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Leerink Partnrs downgraded shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Morgan Stanley increased their price objective 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 lifted their target price on Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. StockNews.com began coverage on Patterson Companies in a report on Friday. They issued a "hold" rating on the stock. Finally, Leerink Partners restated a "market perform" rating and set a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Patterson Companies currently has an average rating of "Hold" and a consensus target price 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.