Water Island Capital LLC Purchases New Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Water Island Capital LLC 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 235,572 shares of the company's stock, valued at approximately $7,270,000. Water Island Capital LLC owned about 0.27% of Patterson Companies as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of Patterson Companies by 31.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company's stock valued at $726,000 after purchasing an additional 7,969 shares in the last quarter. HighTower Advisors LLC boosted its position in Patterson Companies by 144.0% during the 3rd quarter. HighTower Advisors LLC now owns 13,318 shares of the company's stock valued at $301,000 after buying an additional 43,572 shares during the period. Stifel Financial Corp boosted its position in shares of Patterson Companies by 6.2% during the third quarter. Stifel Financial Corp now owns 30,825 shares of the company's stock valued at $673,000 after purchasing an additional 1,789 shares in the last quarter. Barclays PLC lifted its holdings in shares of Patterson Companies by 37.2% during the third quarter. Barclays PLC now owns 165,715 shares of the company's stock valued at $3,619,000 after purchasing an additional 44,906 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Patterson Companies by 54.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 25,670 shares of the company's stock worth $525,000 after purchasing an additional 9,015 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Patterson Companies in a report on Saturday, April 12th. They set a "hold" rating for the company. Eleven investment 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, the company currently has a consensus rating of "Hold" and a consensus price target of $26.57.

Patterson Companies Trading Up 0.0 %

Shares of Patterson Companies stock traded up $0.01 during trading on Thursday, hitting $31.33. The stock had a trading volume of 9,359,303 shares, compared to its average volume of 1,206,191. 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 market capitalization of $2.77 billion, a PE ratio of 18.32, a P/E/G ratio of 2.71 and a beta of 0.73. Patterson Companies, Inc. has a 1 year low of $19.45 and a 1 year high of $31.79. The stock has a 50 day simple moving average of $31.13 and a 200 day simple moving average of $27.47.

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.