Water Island Capital LLC Acquires Shares of 235,572 Patterson Companies, Inc. (NASDAQ:PDCO)

Water Island Capital LLC bought a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 235,572 shares of the company’s stock, valued at approximately $7,270,000. Water Island Capital LLC owned 0.27% of Patterson Companies at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PDCO. Rockefeller Capital Management L.P. lifted its holdings in Patterson Companies by 9.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,987 shares of the company’s stock valued at $339,000 after purchasing an additional 953 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Patterson Companies by 779.7% in the 4th quarter. Sterling Capital Management LLC now owns 2,041 shares of the company’s stock valued at $63,000 after buying an additional 1,809 shares in the last quarter. Quinn Opportunity Partners LLC acquired a new stake in Patterson Companies in the 4th quarter worth about $1,234,000. Raymond James Financial Inc. purchased a new stake in Patterson Companies during the 4th quarter worth approximately $18,316,000. Finally, Legal & General Group Plc raised its holdings in shares of Patterson Companies by 0.7% during the fourth quarter. Legal & General Group Plc now owns 231,015 shares of the company’s stock valued at $7,129,000 after acquiring an additional 1,510 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

PDCO has been the subject of several research reports. Morgan Stanley boosted their price target on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. StockNews.com began coverage on shares of Patterson Companies in a research note on Saturday. 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, the stock presently has an average rating of “Hold” and an average target price of $26.57.

Patterson Companies Price Performance

Shares of PDCO stock opened at $30.91 on Friday. The firm’s 50-day moving average is $31.11 and its two-hundred day moving average is $27.31. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79. 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 capitalization of $2.73 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73.

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.