Patterson Companies, Inc. (NASDAQ:PDCO) Shares Purchased by Nexpoint Asset Management L.P.

Nexpoint Asset Management L.P. raised its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 1,846.0% in the fourth quarter, HoldingsChannel reports. The fund owned 334,720 shares of the company’s stock after purchasing an additional 317,520 shares during the period. Patterson Companies accounts for approximately 1.2% of Nexpoint Asset Management L.P.’s investment portfolio, making the stock its 24th largest holding. Nexpoint Asset Management L.P.’s holdings in Patterson Companies were worth $10,329,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Harbour Investments Inc. purchased a new position in shares of Patterson Companies in the 4th quarter valued at about $26,000. Huntington National Bank grew its holdings in Patterson Companies by 54.0% in the fourth quarter. Huntington National Bank now owns 1,115 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares during the period. GAMMA Investing LLC raised its stake in shares of Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after buying an additional 680 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Patterson Companies by 501.6% during 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. Finally, Sterling Capital Management LLC lifted its position in shares of Patterson Companies by 779.7% during the 4th quarter. Sterling Capital Management LLC now owns 2,041 shares of the company’s stock valued at $63,000 after buying an additional 1,809 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Patterson Companies in a research note on Monday. They set a “hold” rating for the company. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $31.33 on Thursday. The firm has a 50-day simple moving average of $31.19 and a 200-day simple moving average of $28.21. 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 market capitalization of $2.77 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. Patterson Companies, Inc. has a 52 week low of $19.45 and a 52 week high of $31.79.

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.