CVS Group (LON:CVSG) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

CVS Group plc (LON:CVSG) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,249.93 and traded as low as GBX 1,222. CVS Group shares last traded at GBX 1,231, with a volume of 332,471 shares changing hands.

Analysts Set New Price Targets

Several analysts have commented on CVSG shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 1,900 target price on shares of CVS Group in a research note on Thursday, March 5th. Berenberg Bank reissued a “buy” rating and set a GBX 2,000 price target on shares of CVS Group in a research note on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 1,724.

CVS Group Stock Performance

The firm has a market capitalization of £861.29 million, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The company has a debt-to-equity ratio of 121.52, a quick ratio of 0.90 and a current ratio of 1.07. The company’s fifty day moving average price is GBX 1,191.65 and its two-hundred day moving average price is GBX 1,249.93.

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

Insider Activity at CVS Group

In other news, insider Scott Morrison bought 987 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of GBX 1,270 per share, with a total value of £12,534.90. 1.43% of the stock is currently owned by insiders.

About CVS Group

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.