HighTower Advisors LLC Decreases Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

HighTower Advisors LLC decreased its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,737 shares of the company’s stock after selling 581 shares during the period. HighTower Advisors LLC’s holdings in Patterson Companies were worth $393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Patterson Companies in the fourth quarter worth about $18,316,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Patterson Companies in the 3rd quarter valued at $11,183,000. Alpine Associates Management Inc. purchased a new position in shares of Patterson Companies during the fourth quarter worth $10,581,000. Equity Investment Corp raised its holdings in shares of Patterson Companies by 16.6% during the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after purchasing an additional 289,295 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted 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 valued at $55,546,000 after purchasing an additional 245,376 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PDCO has been the subject of several recent research reports. Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Piper Sandler dropped their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Leerink Partners reissued a “market perform” rating and issued a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Morgan Stanley upped their price objective on shares of 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 reduced their price target 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. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Price Performance

Patterson Companies stock opened at $31.24 on Tuesday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The company’s 50 day simple moving average is $31.08 and its 200-day simple moving average is $26.67. Patterson Companies, Inc. has a 1 year low of $19.45 and a 1 year high of $31.79.

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.