Covetrus Inc (NASDAQ:CVET) insider Erin Powers Brennan bought 1,684 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $14.90 per share, with a total value of $25,091.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
NASDAQ CVET traded up $0.54 on Thursday, reaching $14.34. The company had a trading volume of 20,761 shares, compared to its average volume of 2,436,123. The company has a 50 day moving average of $22.41. The company has a current ratio of 1.74, a quick ratio of 0.91 and a debt-to-equity ratio of 0.51. Covetrus Inc has a 52 week low of $12.22 and a 52 week high of $43.83.
Covetrus (NASDAQ:CVET) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.05 billion. As a group, sell-side analysts predict that Covetrus Inc will post 0.4 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on CVET. Zacks Investment Research downgraded Covetrus from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Cleveland Research began coverage on Covetrus in a research report on Friday, May 10th. They set a “hold” rating for the company. ValuEngine downgraded Covetrus from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Stifel Nicolaus dropped their price objective on Covetrus from $30.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, Credit Suisse Group set a $15.00 price objective on Covetrus and gave the company a “hold” rating in a report on Friday, August 16th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Covetrus currently has a consensus rating of “Hold” and a consensus price target of $20.75.
A hedge fund recently bought a new stake in Covetrus stock. Gamble Jones Investment Counsel acquired a new stake in Covetrus Inc (NASDAQ:CVET) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 77,986 shares of the company’s stock, valued at approximately $1,908,000. Gamble Jones Investment Counsel owned about 0.07% of Covetrus at the end of the most recent quarter. 75.10% of the stock is owned by institutional investors and hedge funds.
Covetrus, Inc engages in developing technologies and services for animal health industry. It also provides products, software, and services to help drive improved patient health, strong client relationships, and successful financial outcomes for veterinary professionals. The company was founded on April 13, 2018 and is headquartered in Melville, NY.
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