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

Charles Schwab Investment Management Inc. increased its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 15.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,799,942 shares of the company’s stock after acquiring an additional 245,376 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Patterson Companies were worth $55,546,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Equity Investment Corp increased its position in Patterson Companies by 16.6% during the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock valued at $62,614,000 after purchasing an additional 289,295 shares during the period. Bank of New York Mellon Corp increased its position 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 valued at $44,924,000 after purchasing an additional 222,005 shares during the period. Allianz Asset Management GmbH increased its position 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 valued at $36,628,000 after purchasing an additional 42,689 shares during the period. Goodman Financial Corp increased its position in Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock valued at $11,865,000 after purchasing an additional 86,972 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in Patterson Companies during the 3rd quarter valued at about $11,183,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analyst Ratings Changes

PDCO has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Morgan Stanley raised their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. StockNews.com initiated coverage on shares of Patterson Companies in a report on Tuesday. They issued a “hold” rating on the stock. Stifel Nicolaus lowered their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Finally, Leerink Partners restated a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. 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, the stock currently has an average rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $31.14 on Friday. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The stock has a market cap of $2.76 billion, a P/E ratio of 18.21, a P/E/G ratio of 2.71 and a beta of 0.99. The business has a fifty day simple moving average of $31.00 and a 200-day simple moving average of $25.85. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

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.