Bank of America Cuts Trupanion (NASDAQ:TRUP) Price Target to $59.00

Trupanion (NASDAQ:TRUP) had its price target lowered by Bank of America from $63.00 to $59.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

TRUP has been the subject of several other reports. Piper Sandler cut their price objective on Trupanion from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Zacks Research lowered Trupanion from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Weiss Ratings lowered Trupanion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 4th. Cantor Fitzgerald cut their price objective on Trupanion from $42.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, Stifel Nicolaus cut their price objective on Trupanion from $35.00 to $31.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.80.

Trupanion Price Performance

TRUP opened at $27.75 on Tuesday. The stock has a fifty day moving average of $27.08 and a 200-day moving average of $34.06. The firm has a market capitalization of $1.21 billion, a P/E ratio of 61.67 and a beta of 1.66. Trupanion has a 12-month low of $24.15 and a 12-month high of $57.88. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.27.

Trupanion (NASDAQ:TRUP) last released its earnings results on Thursday, February 12th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Trupanion had a net margin of 1.35% and a return on equity of 5.39%. The business had revenue of $376.85 million during the quarter, compared to analysts’ expectations of $375.89 million. During the same quarter in the previous year, the company earned $0.04 EPS. Trupanion’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts forecast that Trupanion will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Trupanion news, COO John R. Gallagher sold 5,283 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $26.52, for a total transaction of $140,105.16. Following the transaction, the chief operating officer directly owned 32,387 shares of the company’s stock, valued at $858,903.24. This represents a 14.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Emily Dreyer sold 7,792 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.15, for a total transaction of $219,344.80. Following the transaction, the executive directly owned 35,627 shares in the company, valued at $1,002,900.05. The trade was a 17.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,502 shares of company stock worth $580,315. Corporate insiders own 5.42% of the company’s stock.

Hedge Funds Weigh In On Trupanion

Several hedge funds have recently bought and sold shares of TRUP. Millennium Management LLC increased its position in Trupanion by 185.8% during the third quarter. Millennium Management LLC now owns 619,003 shares of the financial services provider’s stock worth $26,790,000 after buying an additional 402,421 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Trupanion by 116.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 477,014 shares of the financial services provider’s stock worth $17,826,000 after buying an additional 256,559 shares during the last quarter. Two Sigma Investments LP increased its position in Trupanion by 3,201.0% during the third quarter. Two Sigma Investments LP now owns 224,433 shares of the financial services provider’s stock worth $9,713,000 after buying an additional 217,634 shares during the last quarter. Polar Capital Holdings Plc increased its position in Trupanion by 13.5% during the fourth quarter. Polar Capital Holdings Plc now owns 1,475,000 shares of the financial services provider’s stock worth $55,121,000 after buying an additional 175,000 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Trupanion by 15.5% during the third quarter. Marshall Wace LLP now owns 1,212,151 shares of the financial services provider’s stock worth $52,462,000 after buying an additional 163,101 shares during the last quarter.

About Trupanion

Trupanion, Inc is a pet medical insurance company that provides comprehensive insurance coverage for cats and dogs. The company’s core offering is a single, customizable medical policy designed to cover veterinary diagnostic tests, surgeries, hospital stays and congenital or hereditary conditions. Trupanion seeks to streamline the claims process by offering direct payment options to participating veterinarians, reducing the need for upfront payments by pet owners.

Founded in 1999 by Darryl Rawlings and headquartered in Seattle, Washington, Trupanion began operations in the early 2000s and has grown its presence through both digital channels and partnerships with veterinary hospitals.