GABELLI & Co INVESTMENT ADVISERS INC. Makes New $2.25 Million Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 72,750 shares of the company's stock, valued at approximately $2,245,000. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.08% of Patterson Companies at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PDCO. Harbour Investments Inc. acquired a new position in Patterson Companies in the fourth quarter valued at $26,000. Huntington National Bank increased its holdings in shares of Patterson Companies by 54.0% in the 4th quarter. Huntington National Bank now owns 1,115 shares of the company's stock valued at $34,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Patterson Companies by 103.0% in the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company's stock valued at $41,000 after purchasing an additional 680 shares during the period. Anchor Investment Management LLC grew its position in Patterson Companies by 20.5% during the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company's stock worth $51,000 after buying an additional 400 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in shares of Patterson Companies by 501.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company's stock valued at $58,000 after acquiring an additional 1,570 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Price Performance

Shares of Patterson Companies stock remained flat at $31.33 during mid-day trading on Friday. The company has a market capitalization of $2.77 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. Patterson Companies, Inc. has a 1 year low of $19.45 and a 1 year high of $31.79. The company has a fifty day simple moving average of $31.14 and a 200-day simple moving average of $27.66.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Patterson Companies in a report on Sunday. They set a "hold" rating for the company. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $26.57.

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.