Heartland Advisors Inc. Decreases Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Heartland Advisors Inc. lessened its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 395,000 shares of the company’s stock after selling 23,900 shares during the period. Heartland Advisors Inc.’s holdings in Patterson Companies were worth $12,190,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in Patterson Companies during the third quarter worth $536,000. Charles Schwab Investment Management Inc. raised its stake in shares of Patterson Companies by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock worth $33,952,000 after purchasing an additional 81,524 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Patterson Companies by 31.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company’s stock worth $726,000 after purchasing an additional 7,969 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Patterson Companies in the 3rd quarter worth about $219,000. Finally, Verition Fund Management LLC grew its position in Patterson Companies by 26.9% during the third quarter. Verition Fund Management LLC now owns 59,527 shares of the company’s stock valued at $1,300,000 after buying an additional 12,633 shares during the period. 85.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PDCO. Stifel Nicolaus dropped their target price on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. StockNews.com initiated coverage on Patterson Companies in a report on Thursday. They set a “hold” rating for the company. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley increased their price target on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird boosted their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Stock Up 0.0 %

Shares of NASDAQ:PDCO opened at $31.25 on Friday. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.71 and a beta of 0.99. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $31.79. The firm has a fifty day moving average price of $31.07 and a two-hundred day moving average price of $26.44. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

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.