Morgan Stanley Cuts PetMed Express (NASDAQ:PETS) Price Target to $3.20

PetMed Express (NASDAQ:PETS) had its target price trimmed by Morgan Stanley from $3.50 to $3.20 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Separately, StockNews.com upgraded PetMed Express from a “hold” rating to a “buy” rating in a research note on Tuesday.

PetMed Express Price Performance

PETS opened at $3.09 on Thursday. PetMed Express has a fifty-two week low of $2.90 and a fifty-two week high of $6.85. The firm has a market capitalization of $63.83 million, a P/E ratio of 309.31 and a beta of 0.99. The company’s 50-day moving average is $3.94 and its 200 day moving average is $4.49.

PetMed Express (NASDAQ:PETS) last posted its earnings results on Monday, February 10th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). PetMed Express had a return on equity of 0.37% and a net margin of 0.14%. On average, equities research analysts expect that PetMed Express will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Formidable Asset Management LLC raised its holdings in shares of PetMed Express by 394.5% in the 4th quarter. Formidable Asset Management LLC now owns 135,251 shares of the company’s stock worth $652,000 after purchasing an additional 107,902 shares during the period. PharVision Advisers LLC purchased a new stake in PetMed Express in the fourth quarter worth $178,000. Squarepoint Ops LLC raised its stake in shares of PetMed Express by 41.4% in the fourth quarter. Squarepoint Ops LLC now owns 17,686 shares of the company’s stock valued at $85,000 after buying an additional 5,180 shares during the period. Man Group plc lifted its position in shares of PetMed Express by 5.5% during the 4th quarter. Man Group plc now owns 145,796 shares of the company’s stock valued at $703,000 after buying an additional 7,646 shares during the last quarter. Finally, Occudo Quantitative Strategies LP grew its stake in shares of PetMed Express by 70.0% during the 4th quarter. Occudo Quantitative Strategies LP now owns 38,597 shares of the company’s stock worth $186,000 after acquiring an additional 15,894 shares during the period. 73.33% of the stock is owned by institutional investors.

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.