American Trust acquired a new stake in shares of Covetrus, Inc. (NASDAQ:CVET – Get Rating) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 11,226 shares of the company's stock, valued at approximately $188,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mutual of America Capital Management LLC increased its stake in shares of Covetrus by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 14,890 shares of the company's stock valued at $250,000 after acquiring an additional 772 shares during the last quarter. Eaton Vance Management increased its position in Covetrus by 4.8% during the 4th quarter. Eaton Vance Management now owns 19,456 shares of the company's stock worth $294,000 after purchasing an additional 899 shares in the last quarter. Parallax Volatility Advisers L.P. increased its position in Covetrus by 4.3% during the 4th quarter. Parallax Volatility Advisers L.P. now owns 31,673 shares of the company's stock worth $633,000 after purchasing an additional 1,304 shares in the last quarter. Teacher Retirement System of Texas increased its position in Covetrus by 6.9% during the 1st quarter. Teacher Retirement System of Texas now owns 21,397 shares of the company's stock worth $359,000 after purchasing an additional 1,385 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Covetrus by 0.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 201,587 shares of the company's stock worth $4,026,000 after purchasing an additional 1,389 shares in the last quarter. Institutional investors and hedge funds own 92.20% of the company's stock.
Get Covetrus alerts:Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. William Blair downgraded shares of Covetrus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, May 25th. Barclays cut Covetrus from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $26.00 to $21.00 in a report on Thursday, May 26th. Raymond James cut Covetrus from an "outperform" rating to a "market perform" rating in a research note on Monday, May 23rd. Stifel Nicolaus cut Covetrus from a "buy" rating to a "hold" rating and set a $22.00 target price for the company. in a research note on Monday, June 13th. Finally, Morgan Stanley raised their price objective on Covetrus from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, May 23rd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $21.40.
Insider Transactions at Covetrus
In related news, CEO Benjamin Wolin sold 5,292 shares of the business's stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $20.80, for a total value of $110,073.60. Following the sale, the chief executive officer now owns 199,780 shares of the company's stock, valued at approximately $4,155,424. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by insiders.Covetrus Trading Down 0.0 %
Shares of NASDAQ CVET opened at $20.88 on Tuesday. Covetrus, Inc. has a one year low of $13.39 and a one year high of $21.20. The business has a 50-day moving average price of $20.81 and a two-hundred day moving average price of $18.91. The company has a current ratio of 1.88, a quick ratio of 1.08 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $2.93 billion, a PE ratio of -208.80 and a beta of 1.63.
Covetrus (NASDAQ:CVET – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, meeting analysts' consensus estimates of $0.20. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. Covetrus had a positive return on equity of 6.83% and a negative net margin of 0.28%. As a group, analysts predict that Covetrus, Inc. will post 0.84 earnings per share for the current fiscal year.
Covetrus 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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