CVS Group (LON:CVSG) Cut to Hold at Jefferies Financial Group

Key Points

• Jefferies Financial Group downgraded CVS Group to Hold from its prior rating and cut the price target to GBX 1,350 from GBX 1,420, implying about 9.67% upside from the previous close.
• Other analysts remain more positive: Berenberg Bank reiterated a Buy rating with a GBX 2,000 target, and the broader consensus still stands at Moderate Buy with an average target of GBX 1,710.
• CVS Group also disclosed a share repurchase plan and an insider purchase by Scott Morrison of 987 shares at GBX 1,270 each, while the stock traded flat around GBX 1,231.

CVS Group (LON:CVSG - Get Free Report) was downgraded by stock analysts at Jefferies Financial Group to a "hold" rating in a research report issued to clients and investors on Thursday,London Stock Exchange reports. They currently have a GBX 1,350 price target on the stock, down from their previous price target of GBX 1,420. Jefferies Financial Group's price target suggests a potential upside of 9.67% from the stock's previous close.

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 2,000 price target on shares of CVS Group in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, CVS Group currently has an average rating of "Moderate Buy" and an average target price of GBX 1,710.

CVS Group Stock Up 0.0%

LON CVSG opened at GBX 1,231 on Thursday. The stock has a fifty day moving average of GBX 1,195.82 and a 200-day moving average of GBX 1,247.82. The stock has a market capitalization of £851.85 million, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.06. CVS Group has a 52 week low of GBX 1,062 and a 52 week high of GBX 1,648. The company has a debt-to-equity ratio of 92.34, a quick ratio of 0.90 and a current ratio of 1.07.

CVS Group declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 26th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other CVS Group news, insider Scott Morrison bought 987 shares of the stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of GBX 1,270 per share, with a total value of £12,534.90. Corporate insiders own 1.43% of the company's stock.

About CVS Group

CVS Group is a leading provider of veterinary services, operating in the UK and Australia, listed on the Main Market of the London Stock Exchange. CVS is focused on providing high-quality clinical services to its clients and their animals, with outstanding and dedicated clinical teams and support colleagues at the core of its strategy. The Group operates from over 475 veterinary practices across its two territories, including specialist referral hospitals and dedicated out-of-hours sites. Alongside the core Veterinary Practices division, CVS operates Laboratories (providing diagnostic services to CVS and third-parties) and an online retail business ("Animed Direct"). The Group employs c.8,900 personnel, including c.2,400 veterinary surgeons and c.3,300 nurses.

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