StockNews.com Initiates Coverage on Patterson Companies (NASDAQ:PDCO)

Equities researchers at StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the stock.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $31.33 on Friday. Patterson Companies has a 52 week low of $19.45 and a 52 week 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 stock has a fifty day moving average of $31.14 and a 200 day moving average of $27.66. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 2.71 and a beta of 0.73.

Hedge Funds Weigh In On Patterson Companies

Hedge funds have recently added to or reduced their stakes in the company. Abound Wealth Management purchased a new stake in Patterson Companies during the 1st quarter valued at $78,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Patterson Companies in the first quarter worth $315,000. SummerHaven Investment Management LLC boosted its holdings in Patterson Companies by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 33,020 shares of the company’s stock worth $1,032,000 after buying an additional 465 shares during the period. SG Americas Securities LLC increased its stake in Patterson Companies by 60.7% in the 1st quarter. SG Americas Securities LLC now owns 37,605 shares of the company’s stock worth $1,175,000 after buying an additional 14,211 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Patterson Companies by 7.7% in the first quarter. Yousif Capital Management LLC now owns 32,598 shares of the company’s stock valued at $1,018,000 after acquiring an additional 2,325 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

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.