Ameriprise Financial Inc. Buys 22,988 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Ameriprise Financial Inc. increased its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 272,723 shares of the company’s stock after purchasing an additional 22,988 shares during the quarter. Ameriprise Financial Inc. owned 0.31% of Patterson Companies worth $8,416,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PDCO. Harbour Investments Inc. purchased a new stake in shares of Patterson Companies in the 4th quarter worth $26,000. Huntington National Bank lifted 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 worth $34,000 after buying an additional 391 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Patterson Companies by 501.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company’s stock worth $58,000 after buying an additional 1,570 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Patterson Companies by 779.7% in the 4th quarter. Sterling Capital Management LLC now owns 2,041 shares of the company’s stock worth $63,000 after buying an additional 1,809 shares during the period. Finally, Islay Capital Management LLC purchased a new stake in shares of Patterson Companies in the 4th quarter worth $67,000. Institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Patterson Companies in a report on Wednesday, May 14th. They issued a “hold” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.57.

Patterson Companies Price Performance

Shares of PDCO stock opened at $31.33 on Wednesday. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79. The stock’s 50-day moving average is $31.25 and its 200 day moving average is $29.25. The company has a market cap of $2.77 billion, a P/E ratio of 18.32, a PEG 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.

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.