Swiss National Bank Increases Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Swiss National Bank increased its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 6.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 164,700 shares of the company’s stock after buying an additional 10,400 shares during the period. Swiss National Bank’s holdings in Patterson Companies were worth $5,083,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Equity Investment Corp boosted its stake in Patterson Companies by 16.6% in the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock valued at $62,614,000 after acquiring an additional 289,295 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Patterson Companies by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock valued at $55,546,000 after purchasing an additional 245,376 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Patterson Companies by 18.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company’s stock valued at $44,924,000 after purchasing an additional 222,005 shares during the period. Allianz Asset Management GmbH increased its position in Patterson Companies by 3.7% in the fourth quarter. Allianz Asset Management GmbH now owns 1,186,906 shares of the company’s stock worth $36,628,000 after buying an additional 42,689 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Patterson Companies in the fourth quarter valued at $18,316,000. Institutional investors own 85.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PDCO shares. Leerink Partners reissued a “market perform” rating and issued a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Piper Sandler reduced their target price on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. StockNews.com began coverage on shares of Patterson Companies in a research note on Wednesday, March 19th. They set a “hold” rating on the stock. Morgan Stanley lifted their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Patterson Companies has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Up 0.1 %

Patterson Companies stock opened at $31.20 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The stock has a market cap of $2.76 billion, a P/E ratio of 18.25, a PEG ratio of 2.71 and a beta of 0.99. The firm’s fifty day moving average price is $31.05 and its 200-day moving average price is $26.30.

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.