Patterson Companies, Inc. (NASDAQ:PDCO) Stock Position Raised by Royce & Associates LP

Royce & Associates LP boosted its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 321,201 shares of the company’s stock after acquiring an additional 9,519 shares during the period. Royce & Associates LP owned about 0.36% of Patterson Companies worth $9,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after purchasing an additional 680 shares during the last quarter. Anchor Investment Management LLC increased its position in Patterson Companies by 20.5% in the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after buying an additional 400 shares during the period. Blue Trust Inc. increased its position in Patterson Companies by 18.0% in the fourth quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock worth $84,000 after buying an additional 417 shares during the period. KBC Group NV lifted its stake in Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after buying an additional 680 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Patterson Companies during the third quarter valued at $65,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $31.18 on Tuesday. The company has a 50-day moving average of $31.01 and a 200-day moving average of $25.98. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99. 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, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler cut their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Mizuho assumed coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price objective for the company. Leerink Partners restated a “market perform” rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. 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. Finally, Stifel Nicolaus lowered their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Patterson Companies presently has a consensus rating of “Hold” and a consensus target price of $26.57.

About Patterson Companies

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.