Vestcor Inc Invests $235,000 in Patterson Companies, Inc. (NASDAQ:PDCO)

Vestcor Inc acquired a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,626 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PDCO. Raymond James Financial Inc. acquired a new position in shares of Patterson Companies during the fourth quarter worth about $18,316,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Patterson Companies during the third quarter worth about $11,183,000. Alpine Associates Management Inc. acquired a new position in shares of Patterson Companies during the fourth quarter worth about $10,581,000. Equity Investment Corp grew its position in shares of Patterson Companies by 16.6% during the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after buying an additional 289,295 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Patterson Companies by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock worth $55,546,000 after buying an additional 245,376 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. Piper Sandler lowered their price target on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Robert W. Baird upped their price target on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Mizuho assumed coverage on Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Leerink Partners reaffirmed 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and an average target price of $26.57.

Patterson Companies Price Performance

PDCO stock opened at $31.18 on Wednesday. The company has a market capitalization of $2.76 billion, a P/E ratio of 18.23, a PEG ratio of 2.71 and a beta of 0.99. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79. The business has a 50 day simple moving average of $31.02 and a 200-day simple moving average of $26.04. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34.

Patterson Companies Company 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.