Raymond James Financial Inc. Invests $18.32 Million in Patterson Companies, Inc. (NASDAQ:PDCO)

Raymond James Financial Inc. purchased a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 593,505 shares of the company’s stock, valued at approximately $18,316,000.

A number of other hedge funds have also recently added to or reduced their stakes in PDCO. Arizona State Retirement System raised its position in shares of Patterson Companies by 6.8% in the fourth quarter. Arizona State Retirement System now owns 24,279 shares of the company’s stock valued at $749,000 after buying an additional 1,536 shares during the last quarter. Atria Investments Inc raised its position in shares of Patterson Companies by 9.9% in the fourth quarter. Atria Investments Inc now owns 11,121 shares of the company’s stock valued at $343,000 after buying an additional 1,006 shares during the last quarter. Clark Estates Inc. NY acquired a new stake in shares of Patterson Companies in the fourth quarter valued at about $4,294,000. Charles Schwab Investment Management Inc. increased its position in Patterson Companies by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock worth $55,546,000 after purchasing an additional 245,376 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Patterson Companies by 591.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,186 shares of the company’s stock worth $160,000 after purchasing an additional 4,436 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Stock Performance

Patterson Companies stock opened at $31.18 on Tuesday. The stock has a market cap of $2.76 billion, a P/E 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. The stock has a 50 day moving average of $31.01 and a 200-day moving average of $25.98. Patterson Companies, Inc. has a 52 week low of $19.45 and a 52 week high of $31.79.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PDCO shares. Stifel Nicolaus cut their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. StockNews.com assumed coverage on shares of Patterson Companies in a research report on Tuesday, March 11th. They set a “hold” rating for the company. Leerink Partners reiterated a “market perform” rating and set a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Robert W. Baird lifted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Mizuho assumed coverage on shares of Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.