Raymond James Financial Inc. Makes New Investment 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 the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 593,505 shares of the company’s stock, valued at approximately $18,316,000. Raymond James Financial Inc. owned about 0.67% of Patterson Companies as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Patterson Companies by 103.0% during the fourth 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 lifted its stake in Patterson Companies by 20.5% during the third 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. Blue Trust Inc. lifted its stake in Patterson Companies by 18.0% during the fourth quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock worth $84,000 after purchasing an additional 417 shares during the last quarter. KBC Group NV lifted its stake in Patterson Companies by 32.7% during the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after purchasing an additional 680 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Patterson Companies during the third quarter worth $65,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Price Performance

PDCO stock opened at $31.18 on Tuesday. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79. 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 company has a 50-day moving average price of $31.01 and a 200 day moving average price of $25.98. The stock has a market cap of $2.76 billion, a PE ratio of 18.23, a P/E/G ratio of 2.71 and a beta of 0.99.

Analysts Set New Price Targets

A number of analysts recently weighed in on PDCO shares. Piper Sandler decreased their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. StockNews.com assumed coverage on Patterson Companies in a 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 report on Wednesday, December 11th. Finally, Robert W. Baird increased their price target on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.