Covetrus Inc (NASDAQ:CVET) shares rose 5.4% during trading on Friday . The stock traded as high as $14.67 and last traded at $14.53, approximately 2,311,134 shares changed hands during trading. An increase of 25% from the average daily volume of 1,849,981 shares. The stock had previously closed at $13.78.
A number of equities research analysts have commented on the company. Goldman Sachs Group began coverage on Covetrus in a research report on Monday, September 9th. They issued a “sell” rating and a $11.00 price target on the stock. Stifel Nicolaus lowered their price objective on Covetrus from $30.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Credit Suisse Group cut their price objective on Covetrus from $15.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. ValuEngine lowered Covetrus from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Raymond James reduced their target price on Covetrus from $45.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Covetrus has a consensus rating of “Hold” and a consensus price target of $15.20.
The company’s 50-day moving average price is $11.95 and its two-hundred day moving average price is $17.75. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.86 and a current ratio of 1.66.
Covetrus (NASDAQ:CVET) last released its earnings results on Tuesday, November 12th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.09. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $963.69 million. Covetrus had a negative net margin of 23.15% and a positive return on equity of 4.26%. The company’s revenue was up 10.3% on a year-over-year basis. Research analysts anticipate that Covetrus Inc will post 0.63 EPS for the current year.
A number of institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY acquired a new position in shares of Covetrus in the 3rd quarter valued at about $323,000. Millennium Management LLC bought a new position in shares of Covetrus during the 3rd quarter worth approximately $673,000. Man Group plc acquired a new stake in shares of Covetrus during the 3rd quarter worth approximately $1,939,000. Voloridge Investment Management LLC acquired a new stake in shares of Covetrus during the 3rd quarter worth approximately $2,112,000. Finally, Barclays PLC bought a new stake in shares of Covetrus in the 3rd quarter valued at $535,000. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Covetrus Company Profile (NASDAQ:CVET)
Covetrus, Inc engages in developing technologies and services for animal health industry. It also provides products, software, and services to help drive improved patient health, strong client relationships, and successful financial outcomes for veterinary professionals. The company was founded on April 13, 2018 and is headquartered in Melville, NY.
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