Covetrus (NASDAQ:CVET – Get Rating) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c-” rating in a research note issued on Wednesday, TheStreetRatingsTable reports.
Separately, Stifel Nicolaus lowered shares of 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. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.40.
Covetrus Trading Up 0.2 %
Covetrus stock opened at $20.91 on Wednesday. The firm has a 50 day simple moving average of $20.83 and a 200-day simple moving average of $19.06. 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 PE ratio of -209.10 and a beta of 1.63. Covetrus has a 12-month low of $13.39 and a 12-month high of $21.20.
Covetrus (NASDAQ:CVET – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations 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 will post 0.84 EPS for the current fiscal year.
Insider Activity at Covetrus
In related 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 transaction of $110,073.60. Following the completion of the sale, the chief executive officer now directly owns 199,780 shares of the company’s stock, valued at $4,155,424. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.
Institutional Investors Weigh In On Covetrus
Hedge funds have recently made changes to their positions in the company. Assetmark Inc. lifted its position in shares of 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 purchased a new stake in shares of Covetrus in the 1st quarter valued at approximately $43,000. US Bancorp DE lifted its position in shares of Covetrus by 77.6% in the 2nd quarter. US Bancorp DE now owns 4,708 shares of the company’s stock valued at $98,000 after acquiring an additional 2,057 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in Covetrus in the 1st quarter valued at approximately $339,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Covetrus in the 1st quarter valued at approximately $170,000. Hedge funds and other institutional investors own 92.20% of the company’s stock.
About Covetrus
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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