Amalgamated Bank decreased its holdings in shares of Covetrus, Inc. (NASDAQ:CVET – Get Rating) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,361 shares of the company's stock after selling 2,442 shares during the quarter. Amalgamated Bank's holdings in Covetrus were worth $778,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Covetrus during the first quarter worth $43,000. Aaron Wealth Advisors LLC purchased a new stake in shares of Covetrus during the first quarter worth $339,000. Crossmark Global Holdings Inc. acquired a new position in shares of Covetrus during the 1st quarter valued at about $170,000. Nisa Investment Advisors LLC boosted its position in shares of Covetrus by 23.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 11,080 shares of the company's stock valued at $186,000 after acquiring an additional 2,100 shares during the last quarter. Finally, American Trust acquired a new position in shares of Covetrus during the 1st quarter valued at about $188,000. Hedge funds and other institutional investors own 92.20% of the company's stock.
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Analyst Ratings Changes
Several brokerages have recently weighed in on CVET. TheStreet raised shares of Covetrus from a "d+" rating to a "c-" rating in a research report on Wednesday. Stifel Nicolaus cut shares of Covetrus from a "buy" rating to a "hold" rating and set a $22.00 price target on the stock. in a research report on Monday, June 13th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $21.40.
Insider Buying and Selling
In other Covetrus news, CEO Benjamin Wolin sold 5,292 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $20.80, for a total value of $110,073.60. Following the transaction, the chief executive officer now directly owns 199,780 shares in the company, valued at $4,155,424. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through
the SEC website. Insiders own 0.40% of the company's stock.
Covetrus Trading Down 0.1 %
NASDAQ CVET opened at $20.88 on Friday. The firm's 50-day moving average is $20.83 and its two-hundred day moving average is $19.09. Covetrus, Inc. has a 12 month low of $13.39 and a 12 month high of $21.20. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.88 and a quick ratio of 1.08. The stock has a market capitalization of $2.93 billion, a P/E ratio of -208.80 and a beta of 1.63.
Covetrus (NASDAQ:CVET – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.20. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. Covetrus had a negative net margin of 0.28% and a positive return on equity of 6.83%. On average, sell-side analysts anticipate that Covetrus, Inc. will post 0.84 earnings per share for the current year.
About Covetrus
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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.
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