Charles Schwab Investment Management Inc. Acquires 245,376 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Charles Schwab Investment Management Inc. boosted its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 15.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,799,942 shares of the company’s stock after buying an additional 245,376 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.04% of Patterson Companies worth $55,546,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Equity Investment Corp raised its stake in Patterson Companies by 16.6% during the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after buying an additional 289,295 shares during the period. Bank of New York Mellon Corp raised its stake in Patterson Companies by 18.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company’s stock worth $44,924,000 after buying an additional 222,005 shares during the period. Allianz Asset Management GmbH raised its stake in Patterson Companies by 3.7% during the 4th 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 period. Goodman Financial Corp raised its stake in Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after buying an additional 86,972 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in Patterson Companies during the 3rd quarter worth $11,183,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Leerink Partners reaffirmed a “market perform” rating and set a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Stifel Nicolaus lowered their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Robert W. Baird increased their target price on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Mizuho initiated coverage on Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Price Performance

Shares of Patterson Companies stock opened at $31.14 on Friday. The company’s fifty day simple moving average is $31.00 and its two-hundred day simple moving average is $25.85. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $31.79. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.76 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99.

Patterson Companies Company 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.