Patterson Companies, Inc. (NASDAQ:PDCO) Stake Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 217,935 shares of the company’s stock after purchasing an additional 44,465 shares during the period. Advisors Asset Management Inc. owned approximately 0.25% of Patterson Companies worth $6,725,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PDCO. Harbour Investments Inc. acquired a new position in Patterson Companies during the fourth quarter worth about $26,000. GAMMA Investing LLC boosted its position in shares of Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after purchasing an additional 680 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after purchasing an additional 400 shares during the last quarter. KBC Group NV raised its holdings in shares of Patterson Companies by 32.7% in the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after purchasing an additional 680 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Patterson Companies during the third quarter valued at approximately $65,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

Shares of PDCO opened at $31.18 on Wednesday. Patterson Companies, Inc. has a 52 week low of $19.45 and a 52 week 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. The company has a market capitalization of $2.76 billion, a PE ratio of 18.23, a PEG ratio of 2.71 and a beta of 0.99. The company’s 50 day moving average price is $31.02 and its 200 day moving average price is $26.04.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com initiated coverage on shares of Patterson Companies in a research report on Wednesday. They issued a “hold” rating on the stock. Piper Sandler cut 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. Morgan Stanley increased their price target on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Mizuho began coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.