PetMed Express (NASDAQ:PETS) Raised to Hold at Wall Street Zen

Key Points

• PetMed Express has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the stock.
• Morgan Stanley has lowered its target price for PetMed Express shares from $3.50 to $3.20 and assigned an "underweight" rating.
• PetMed Express shares have dropped by 5.3% recently, reflecting mixed investor sentiment and analyst ratings.

PetMed Express (NASDAQ:PETS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Morgan Stanley dropped their price objective on shares of PetMed Express from $3.50 to $3.20 and set an "underweight" rating for the company in a research note on Thursday, April 17th.

PetMed Express Price Performance

NASDAQ:PETS traded down $0.18 on Friday, reaching $3.37. The stock had a trading volume of 23,178 shares, compared to its average volume of 193,218. The company has a market cap of $69.54 million, a price-to-earnings ratio of 336.94 and a beta of 0.78. The firm's fifty day moving average is $3.56 and its two-hundred day moving average is $3.91. PetMed Express has a 12-month low of $2.90 and a 12-month high of $6.85.

Insider Buying and Selling

In related news, CEO Sandra Yvette Campos sold 60,463 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.31, for a total transaction of $200,132.53. Following the completion of the sale, the chief executive officer owned 578,524 shares of the company's stock, valued at approximately $1,914,914.44. This represents a 9.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Silvercape Investments Ltd acquired 17,565 shares of the stock in a transaction on Friday, July 18th. The stock was purchased at an average cost of $3.23 per share, with a total value of $56,734.95. Following the transaction, the insider directly owned 2,360,496 shares of the company's stock, valued at $7,624,402.08. This represents a 0.75% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 59,484 shares of company stock valued at $194,898. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of PetMed Express

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in PetMed Express by 59.3% in the first quarter. Goldman Sachs Group Inc. now owns 33,209 shares of the company's stock valued at $139,000 after acquiring an additional 12,360 shares in the last quarter. Caption Management LLC acquired a new stake in PetMed Express in the first quarter valued at approximately $242,000. American Century Companies Inc. grew its position in PetMed Express by 80.1% in the first quarter. American Century Companies Inc. now owns 60,629 shares of the company's stock valued at $254,000 after acquiring an additional 26,967 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in PetMed Express in the first quarter valued at approximately $295,000. Finally, Formidable Asset Management LLC grew its position in PetMed Express by 394.5% in the fourth quarter. Formidable Asset Management LLC now owns 135,251 shares of the company's stock valued at $652,000 after acquiring an additional 107,902 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

PetMed Express Company Profile

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.