CVS Group (LON:CVSG) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• CVS Group shares crossed above their 200-day moving average, reaching GBX 1,324 before last trading at GBX 1,292.56, compared with a 200-day average of GBX 1,235.10.
• Analysts remain broadly positive, with four Buy ratings and one Hold rating. The stock has a consensus “Moderate Buy” rating and a GBX 1,720 target price.
• Company insiders purchased 3,860 shares worth approximately £4.96 million over the past three months, while insiders own 1.43% of CVS Group.

CVS Group plc (LON:CVSG - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,235.10 and traded as high as GBX 1,324. CVS Group shares last traded at GBX 1,292.56, with a volume of 211,113 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CVSG shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 1,700 target price on shares of CVS Group in a research report on Monday, July 27th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 2,000 price target on shares of CVS Group in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group increased their price objective on CVS Group from GBX 1,350 to GBX 1,400 and gave the company a "hold" rating in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,720.

CVS Group Price Performance

The firm has a market cap of £884.67 million, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 92.34. The stock has a 50 day moving average price of GBX 1,268.55 and a two-hundred day moving average price of GBX 1,235.10.

CVS Group declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 26th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Robin Alfonso purchased 768 shares of the business's stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of GBX 1,294 per share, for a total transaction of £9,937.92. Also, insider David Wilton purchased 1,500 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of GBX 1,276 per share, for a total transaction of £19,140. Insiders purchased 3,860 shares of company stock worth $4,956,696 in the last three months. Corporate insiders own 1.43% of the company's stock.

CVS Group Company Profile

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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