Raymond James Financial Inc. Makes New $18.32 Million Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Raymond James Financial Inc. purchased a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 593,505 shares of the company's stock, valued at approximately $18,316,000. Raymond James Financial Inc. owned about 0.67% of Patterson Companies as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Patterson Companies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company's stock worth $290,390,000 after acquiring an additional 47,897 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Patterson Companies by 24.1% during the 4th quarter. American Century Companies Inc. now owns 2,711,030 shares of the company's stock worth $83,662,000 after purchasing an additional 527,054 shares during the last quarter. Equity Investment Corp raised its holdings in shares of Patterson Companies by 16.6% in 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. Charles Schwab Investment Management Inc. grew its holdings in 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 purchasing an additional 245,376 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Patterson Companies by 18.0% in 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 buying an additional 222,005 shares during the period. Institutional investors own 85.43% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Patterson Companies in a report on Sunday, April 20th. They set a "hold" rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Patterson Companies currently has an average rating of "Hold" and an average target price of $26.57.

Patterson Companies Stock Performance

PDCO stock remained flat at $31.33 during trading hours on Friday. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79. 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 firm has a market capitalization of $2.77 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. The company's fifty day moving average is $31.17 and its 200-day moving average is $27.91.

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.