Short Interest in Patterson Companies, Inc. (NASDAQ:PDCO) Increases By 40.9%

Patterson Companies, Inc. (NASDAQ:PDCO) experienced a significant increase in short interest, rising 40.9% to 2,790,000 shares as of March 31, up from 1,980,000 shares on March 15. This represents approximately 3.6% of the company's stock. The short-interest ratio is currently 2.0 days based on an average daily volume of 1,380,000 shares. The stock remained flat at $31.33, with a market cap of $2.77 billion and a consensus target price of $26.57 from analysts, who generally rate it as a "hold."

Patterson Companies, Inc. (NASDAQ:PDCO - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,790,000 shares, an increase of 40.9% from the March 15th total of 1,980,000 shares. Based on an average daily trading volume, of 1,380,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.6% of the company's stock are sold short.

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Patterson Companies Price Performance

Patterson Companies Leverages Healthcare For Income Investors

NASDAQ:PDCO remained flat at $31.33 during mid-day trading on Friday. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $31.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The firm has a 50 day simple moving average of $31.14 and a 200-day simple moving average of $27.61. The company has a market cap of $2.77 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Patterson Companies in a research report on Saturday, April 12th. They set a "hold" rating on the stock. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $26.57.

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Read Our Latest Stock Analysis on Patterson Companies

Institutional Trading of Patterson Companies

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in Patterson Companies by 37.2% during the 3rd quarter. Barclays PLC now owns 165,715 shares of the company's stock worth $3,619,000 after purchasing an additional 44,906 shares in the last quarter. EMC Capital Management increased its holdings in Patterson Companies by 600.7% in the 4th quarter. EMC Capital Management now owns 16,053 shares of the company's stock worth $495,000 after purchasing an additional 13,762 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Patterson Companies by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company's stock worth $55,546,000 after purchasing an additional 245,376 shares during the last quarter. Tritonpoint Wealth LLC acquired a new stake in Patterson Companies during the 4th quarter worth approximately $264,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Patterson Companies during the 4th quarter worth approximately $518,000. Institutional investors own 85.43% of the company's stock.

Patterson Companies Company Profile

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Recession-Proof Patterson Companies Is A Steal

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.

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