State of Alaska Department of Revenue increased its position in shares of Covetrus, Inc. (NASDAQ:CVET – Get Rating) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,091 shares of the company's stock after buying an additional 7,205 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Covetrus worth $1,641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC lifted its position in shares of Covetrus by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 14,890 shares of the company's stock worth $250,000 after acquiring an additional 772 shares during the period. Eaton Vance Management boosted its stake in Covetrus by 4.8% during the fourth quarter. Eaton Vance Management now owns 19,456 shares of the company's stock worth $294,000 after buying an additional 899 shares in the last quarter. Parallax Volatility Advisers L.P. increased its holdings in Covetrus by 4.3% in the 4th quarter. Parallax Volatility Advisers L.P. now owns 31,673 shares of the company's stock valued at $633,000 after buying an additional 1,304 shares during the period. Teacher Retirement System of Texas increased its holdings in Covetrus by 6.9% in the 1st quarter. Teacher Retirement System of Texas now owns 21,397 shares of the company's stock valued at $359,000 after buying an additional 1,385 shares during the period. Finally, Lumbard & Kellner LLC raised its stake in shares of Covetrus by 0.9% in the 1st quarter. Lumbard & Kellner LLC now owns 198,160 shares of the company's stock valued at $3,327,000 after buying an additional 1,753 shares in the last quarter. 92.20% of the stock is currently owned by institutional investors.

Insider Transactions at Covetrus

In related news, CEO Benjamin Wolin sold 5,293 shares of the firm's stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $20.75, for a total transaction of $109,829.75. Following the completion of the sale, the chief executive officer now directly owns 198,238 shares of the company's stock, valued at approximately $4,113,438.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Covetrus Stock Down 0.1 %

Shares of NASDAQ CVET opened at $20.87 on Monday. Covetrus, Inc. has a 52-week low of $13.39 and a 52-week high of $21.20. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.08 and a current ratio of 1.88. The business has a fifty day moving average of $20.82 and a two-hundred day moving average of $19.00. The stock has a market cap of $2.92 billion, a PE ratio of -208.70 and a beta of 1.63.

Covetrus (NASDAQ:CVET – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. Covetrus had a negative net margin of 0.28% and a positive return on equity of 6.83%. As a group, equities research analysts expect that Covetrus, Inc. will post 0.84 earnings per share for the current fiscal year.

Covetrus Company Profile

(Get Rating)

Covetrus, Inc, together with its subsidiaries, operates as an animal-health technology and services company. It engages in the sale of animal-health consumable products, including proprietary and Covetrus branded products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, parasiticides, and vitamins and supplements to wholesale and retail customers.

Further Reading

• Get a free copy of the StockNews.com research report on Covetrus (CVET)
• Can Caterpillar Claw Higher in a Falling Market?
• Is Dave & Buster's Immune to High Inflation and Lower Spending?
• Should These 3 Top-Performing Mid-Caps Be On Your Watchlist?
• Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
• MarketBeat: Week in Review 9/19 – 9/23

Receive News & Ratings for Covetrus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covetrus and related companies with MarketBeat.com's FREE daily email newsletter.