Norges Bank Takes $2.17 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Norges Bank bought a new position in Patterson Companies, Inc. (NASDAQ:PDCO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 70,289 shares of the company’s stock, valued at approximately $2,169,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PDCO. Values First Advisors Inc. raised its position in Patterson Companies by 2.9% during the fourth quarter. Values First Advisors Inc. now owns 11,961 shares of the company’s stock valued at $369,000 after purchasing an additional 337 shares in the last quarter. Anchor Investment Management LLC increased its position in shares of Patterson Companies by 20.5% during the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after purchasing an additional 400 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Patterson Companies by 18.0% during the 4th quarter. Blue Trust Inc. now owns 2,738 shares of the company’s stock valued at $84,000 after buying an additional 417 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Patterson Companies by 11.2% during the 4th quarter. Spire Wealth Management now owns 4,160 shares of the company’s stock valued at $128,000 after buying an additional 419 shares in the last quarter. Finally, US Bancorp DE lifted its position in Patterson Companies by 1.6% in the 4th quarter. US Bancorp DE now owns 32,767 shares of the company’s stock worth $1,011,000 after buying an additional 514 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Trading Down 0.1 %

NASDAQ:PDCO opened at $30.91 on Friday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 18.08, a P/E/G 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. The company has a fifty day moving average of $31.11 and a 200 day moving average of $27.31. Patterson Companies, Inc. has a 52 week low of $19.45 and a 52 week high of $31.79.

Wall Street Analysts Forecast Growth

PDCO has been the topic of several research reports. StockNews.com started coverage on shares of Patterson Companies in a research note on Saturday. They set a “hold” rating on the stock. Morgan Stanley lifted their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.57.

Patterson Companies 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.