Patterson Companies (NASDAQ:PDCO) Now Covered by Wall Street Zen

Wall Street Zen initiated coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note released on Thursday morning. The brokerage issued a hold rating on the stock.

Patterson Companies Stock Performance

Patterson Companies stock opened at $31.33 on Thursday. The stock 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. Patterson Companies has a 1 year low of $19.45 and a 1 year high of $31.79. The firm’s 50 day moving average price is $31.25 and its 200-day moving average price is $29.34.

Institutional Investors Weigh In On Patterson Companies

Several institutional investors and hedge funds have recently modified their holdings of PDCO. Nexpoint Asset Management L.P. raised its position in shares of Patterson Companies by 755.3% during the first quarter. Nexpoint Asset Management L.P. now owns 2,862,800 shares of the company’s stock valued at $89,434,000 after buying an additional 2,528,080 shares during the last quarter. TIG Advisors LLC raised its position in shares of Patterson Companies by 231.1% during the first quarter. TIG Advisors LLC now owns 1,569,996 shares of the company’s stock valued at $49,047,000 after buying an additional 1,095,832 shares during the last quarter. Polar Asset Management Partners Inc. raised its position in shares of Patterson Companies by 527.8% during the first quarter. Polar Asset Management Partners Inc. now owns 1,255,601 shares of the company’s stock valued at $39,225,000 after buying an additional 1,055,601 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Patterson Companies by 899.0% during the first quarter. Alliancebernstein L.P. now owns 1,056,373 shares of the company’s stock valued at $33,001,000 after buying an additional 950,625 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Patterson Companies during the fourth quarter valued at approximately $18,316,000. Institutional investors own 85.43% of the company’s stock.

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.