Intech Investment Management LLC Invests $536,000 in Patterson Companies, Inc. (NASDAQ:PDCO)

Intech Investment Management LLC acquired a new position in Patterson Companies, Inc. (NASDAQ:PDCO) during the third quarter, Holdings Channel reports. The institutional investor acquired 24,527 shares of the company’s stock, valued at approximately $536,000.

A number of other large investors have also recently bought and sold shares of PDCO. Equity Investment Corp bought a new position in Patterson Companies during the second quarter worth $37,935,000. Private Management Group Inc. raised its stake in shares of Patterson Companies by 268.5% in the second quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock worth $34,532,000 after acquiring an additional 1,043,201 shares during the last quarter. LSV Asset Management increased its stake in shares of Patterson Companies by 58.8% in the 2nd quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock valued at $33,559,000 after buying an additional 515,299 shares during the period. American Century Companies Inc. lifted its position in Patterson Companies by 83.6% during the 2nd quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock valued at $21,775,000 after purchasing an additional 411,012 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Patterson Companies by 1,574.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 340,000 shares of the company’s stock worth $8,201,000 after acquiring an additional 319,700 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PDCO has been the topic of several analyst reports. Bank of America cut their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Robert W. Baird cut their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Evercore ISI dropped their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. JPMorgan Chase & Co. decreased their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, UBS Group decreased their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Patterson Companies currently has a consensus rating of “Hold” and a consensus target price of $27.63.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $21.49 on Monday. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $30.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The business’s 50 day simple moving average is $20.96 and its 200 day simple moving average is $22.88. The stock has a market capitalization of $1.89 billion, a PE ratio of 11.74, a PEG ratio of 1.56 and a beta of 1.02.

Patterson Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Friday, October 18th. Patterson Companies’s dividend payout ratio is 56.83%.

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.