TheStreet upgraded shares of Covetrus (NASDAQ:CVET – Get Rating) from a d+ rating to a c- rating in a report published on Wednesday morning, TheStreetRatingsTable reports.
Separately, Stifel Nicolaus downgraded Covetrus from a buy rating to a hold rating and set a $22.00 target price for the company. in a report on Monday, June 13th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $21.40.
Get Covetrus alerts:Covetrus Stock Down 0.1 %
CVET opened at $20.88 on Wednesday. Covetrus has a fifty-two week low of $13.39 and a fifty-two 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 company has a market capitalization of $2.93 billion, a P/E ratio of -208.80 and a beta of 1.63. The stock has a fifty day moving average of $20.83 and a 200-day moving average of $19.09.
Covetrus (NASDAQ:CVET – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, hitting analysts' consensus estimates of $0.20. Covetrus had a positive return on equity of 6.83% and a negative net margin of 0.28%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. On average, equities analysts expect that Covetrus will post 0.84 EPS for the current year.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 stock was sold at an average price of $20.80, for a total value of $110,073.60. Following the completion of the transaction, the chief executive officer now owns 199,780 shares of the company's stock, valued at $4,155,424. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. acquired a new position in Covetrus in the first quarter valued at about $170,000. Profund Advisors LLC grew its position in Covetrus by 19.6% in the first quarter. Profund Advisors LLC now owns 15,485 shares of the company's stock valued at $260,000 after acquiring an additional 2,543 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Covetrus by 87.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,028,735 shares of the company's stock valued at $20,544,000 after acquiring an additional 479,008 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Covetrus in the first quarter valued at about $343,000. Finally, Tamarack Advisers LP bought a new position in Covetrus in the first quarter valued at about $2,166,000. Institutional investors and hedge funds own 92.20% of the company's stock.
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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