Patterson Companies (NASDAQ:PDCO) Sees Strong Trading Volume – Should You Buy?

Patterson Companies, Inc. (NASDAQ:PDCO) shares saw unusually-strong trading volume on Thursday . Approximately 2,673,529 shares were traded during mid-day trading, an increase of 139% from the previous session’s volume of 1,116,706 shares.The stock last traded at $30.93 and had previously closed at $31.22.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley lifted their price objective on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. StockNews.com started coverage on shares of Patterson Companies in a research report on Saturday. They issued a “hold” rating on the stock. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Down 0.1 %

The firm’s 50 day simple moving average is $31.11 and its 200 day simple moving average is $27.31. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Patterson Companies in the fourth quarter worth about $18,316,000. American Century Companies Inc. lifted its stake in shares of Patterson Companies by 24.1% in the 4th quarter. American Century Companies Inc. now owns 2,711,030 shares of the company’s stock worth $83,662,000 after acquiring an additional 527,054 shares during the period. TIG Advisors LLC bought a new position in shares of Patterson Companies in the fourth quarter valued at approximately $14,633,000. Hsbc Holdings PLC increased its stake in shares of Patterson Companies by 2,837.3% during the fourth quarter. Hsbc Holdings PLC now owns 423,977 shares of the company’s stock valued at $13,084,000 after acquiring an additional 409,543 shares during the period. Finally, Woodline Partners LP bought a new stake in Patterson Companies during the fourth quarter worth approximately $12,344,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.