Islay Capital Management LLC Makes New $67,000 Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Islay Capital Management LLC bought a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,179 shares of the company’s stock, valued at approximately $67,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raymond James Financial Inc. bought a new position in Patterson Companies in the 4th quarter valued at $18,316,000. American Century Companies Inc. raised its holdings in shares of Patterson Companies by 24.1% in the fourth quarter. American Century Companies Inc. now owns 2,711,030 shares of the company’s stock valued at $83,662,000 after buying an additional 527,054 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in Patterson Companies during the 4th quarter worth about $10,581,000. Equity Investment Corp grew its holdings in Patterson Companies by 16.6% during the 4th quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after acquiring an additional 289,295 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Patterson Companies by 65.0% in the 4th quarter. JPMorgan Chase & Co. now owns 713,048 shares of the company’s stock valued at $22,005,000 after acquiring an additional 280,893 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on PDCO. Piper Sandler decreased their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Leerink Partners reissued a “market perform” rating and issued a $31.35 target price (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Robert W. Baird upped their price target on Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Morgan Stanley boosted their price objective on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Finally, Leerink Partnrs lowered shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. 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, Patterson Companies has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $30.94 on Friday. The stock’s fifty day simple moving average is $31.10 and its 200 day simple moving average is $26.86. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.74 billion, a PE ratio of 18.09, a PEG ratio of 2.71 and a beta of 0.73. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79.

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.