Shares of Covetrus, Inc. (NASDAQ:CVET) have been given an average rating of "Buy" by the six ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $33.25.
Several equities analysts recently issued reports on CVET shares. Barclays assumed coverage on Covetrus in a research report on Wednesday, February 17th. They issued an "overweight" rating and a $48.00 price target on the stock. Zacks Investment Research cut Covetrus from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Raymond James lifted their price objective on shares of Covetrus from $31.00 to $39.00 and gave the company an "outperform" rating in a research report on Monday, March 8th.
In other Covetrus news, CEO Benjamin Wolin sold 5,556 shares of the company's stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $38.34, for a total transaction of $213,017.04. Also, insider Anthony C. Jr. Providenti sold 5,000 shares of the stock in a transaction dated Friday, January 15th. The shares were sold at an average price of $36.78, for a total transaction of $183,900.00. Following the completion of the transaction, the insider now directly owns 20,540 shares of the company's stock, valued at $755,461.20. The disclosure for this sale can be found here. Insiders have sold a total of 57,442 shares of company stock worth $1,993,806 in the last quarter. 1.20% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in Covetrus in the third quarter valued at $29,000. Eudaimonia Partners LLC acquired a new stake in Covetrus during the third quarter worth approximately $43,000. Assetmark Inc. grew its stake in Covetrus by 25.2% in the 4th quarter. Assetmark Inc. now owns 2,075 shares of the company's stock worth $60,000 after acquiring an additional 417 shares during the period. Annapolis Financial Services LLC acquired a new position in Covetrus in the 4th quarter valued at $77,000. Finally, Scott Investment Partners LLP purchased a new position in shares of Covetrus during the 4th quarter worth $83,000. 94.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Covetrus stock opened at $29.15 on Thursday. The company has a quick ratio of 1.34, a current ratio of 2.05 and a debt-to-equity ratio of 0.76. Covetrus has a 52 week low of $6.87 and a 52 week high of $40.78. The firm's 50 day moving average is $32.66 and its two-hundred day moving average is $30.10. The firm has a market capitalization of $3.97 billion, a P/E ratio of -52.05, a P/E/G ratio of 2.64 and a beta of 2.28.
Covetrus (NASDAQ:CVET) last issued its quarterly earnings data on Sunday, February 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.16 by $0.05. Covetrus had a negative net margin of 1.21% and a positive return on equity of 7.09%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $0.18 EPS. Covetrus's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts expect that Covetrus will post 0.6 earnings per share for the current fiscal year.
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, and vitamins and supplements to wholesale and retail customers.
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