Covetrus, Inc. (NASDAQ:CVET – Get Rating) has been given an average rating of "Hold" by the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $20.00.
CVET has been the topic of several analyst reports. Stifel Nicolaus lowered Covetrus from a "buy" rating to a "hold" rating and set a $22.00 price target on the stock. in a report on Monday, June 13th. TheStreet upgraded Covetrus from a "d+" rating to a "c-" rating in a report on Wednesday, September 28th.
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Insider Activity at Covetrus
In related news, CEO Benjamin Wolin sold 5,292 shares of the business's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $20.80, for a total value of $110,073.60. Following the sale, the chief executive officer now directly owns 199,780 shares in the company, valued at approximately $4,155,424. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by insiders.
Hedge Funds Weigh In On Covetrus
Institutional investors have recently bought and sold shares of the company. Assetmark Inc. grew its position in Covetrus by 385.7% in the 2nd quarter. Assetmark Inc. now owns 1,700 shares of the company's stock valued at $35,000 after acquiring an additional 1,350 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Covetrus during the first quarter worth about $43,000. US Bancorp DE grew its position in shares of Covetrus by 77.6% during the second quarter. US Bancorp DE now owns 4,708 shares of the company's stock worth $98,000 after buying an additional 2,057 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in shares of Covetrus during the first quarter worth about $339,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Covetrus during the first quarter worth about $170,000. 92.20% of the stock is owned by institutional investors and hedge funds.
Covetrus Trading Down 0.1 %
Shares of CVET opened at $20.88 on Friday. Covetrus has a 52-week low of $13.39 and a 52-week high of $21.20. The company has a quick ratio of 1.08, a current ratio of 1.88 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average is $20.84 and its two-hundred day moving average is $19.15. The stock has a market cap of $2.93 billion, a PE ratio of -208.80 and a beta of 1.63.
Covetrus (NASDAQ:CVET – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. Covetrus had a positive return on equity of 6.83% and a negative net margin of 0.28%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. Research analysts forecast that Covetrus will post 0.84 earnings per share for the current fiscal year.
Covetrus Company Profile
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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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