JPMorgan Chase & Co. Grows Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

JPMorgan Chase & Co. increased its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 65.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 713,048 shares of the company’s stock after acquiring an additional 280,893 shares during the period. JPMorgan Chase & Co.’s holdings in Patterson Companies were worth $22,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Patterson Companies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company’s stock valued at $290,390,000 after purchasing an additional 47,897 shares in the last quarter. American Century Companies Inc. increased its stake in 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 last quarter. Equity Investment Corp raised its holdings in shares of 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 acquiring an additional 289,295 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Patterson Companies by 15.8% in 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Patterson Companies by 18.0% during the fourth 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 in the last quarter. Institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com started coverage on shares of Patterson Companies in a report on Friday, April 4th. They issued a “hold” rating on the stock. Morgan Stanley raised their price objective on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Leerink Partnrs cut shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Leerink Partners reiterated 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. Finally, Robert W. Baird lifted their price objective 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. Eleven 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, Patterson Companies presently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Up 0.5 %

Shares of NASDAQ PDCO opened at $31.22 on Thursday. The business has a fifty day moving average price of $31.11 and a 200 day moving average price of $27.18. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The stock has a market capitalization of $2.76 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73.

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.