Sit Investment Associates Inc. Sells 21,085 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Sit Investment Associates Inc. decreased its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 84.1% in the fourth quarter, HoldingsChannel reports. The firm owned 4,000 shares of the company’s stock after selling 21,085 shares during the quarter. Sit Investment Associates Inc.’s holdings in Patterson Companies were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets raised 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 buying an additional 7,969 shares in the last quarter. Barclays PLC raised its position in 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 period. EMC Capital Management raised its position in Patterson Companies by 600.7% during the fourth quarter. EMC Capital Management now owns 16,053 shares of the company’s stock valued at $495,000 after purchasing an additional 13,762 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Patterson Companies by 15.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock valued at $55,546,000 after purchasing an additional 245,376 shares during the last quarter. Finally, Tritonpoint Wealth LLC purchased a new position in shares of Patterson Companies in the 4th quarter worth approximately $264,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Trading Down 0.3 %

Shares of NASDAQ PDCO opened at $30.85 on Tuesday. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79. The firm has a market cap of $2.73 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. The business has a fifty day simple moving average of $31.10 and a two-hundred day simple moving average of $26.99. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PDCO. Leerink Partners restated a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Robert W. Baird lifted their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. StockNews.com initiated coverage on shares of Patterson Companies in a research report on Friday. They issued a “hold” rating on the stock. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley increased their price target on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Patterson Companies currently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies 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.