Public Employees Retirement System of Ohio purchased a new stake in PetIQ Inc (NASDAQ:PETQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 86,392 shares of the company’s stock, valued at approximately $2,320,000. Public Employees Retirement System of Ohio owned approximately 0.35% of PetIQ as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Wasatch Advisors Inc. raised its holdings in shares of PetIQ by 452.1% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,944,321 shares of the company’s stock valued at $52,224,000 after acquiring an additional 1,592,157 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of PetIQ by 571.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 940,000 shares of the company’s stock valued at $25,248,000 after acquiring an additional 800,000 shares in the last quarter. Park West Asset Management LLC raised its holdings in shares of PetIQ by 4.6% in the 1st quarter. Park West Asset Management LLC now owns 935,317 shares of the company’s stock valued at $24,879,000 after acquiring an additional 41,213 shares in the last quarter. BlackRock Inc. raised its holdings in shares of PetIQ by 5.5% in the 2nd quarter. BlackRock Inc. now owns 835,035 shares of the company’s stock valued at $22,427,000 after acquiring an additional 43,693 shares in the last quarter. Finally, Redwood Investments LLC raised its holdings in shares of PetIQ by 55.5% in the 1st quarter. Redwood Investments LLC now owns 749,611 shares of the company’s stock valued at $19,940,000 after acquiring an additional 267,430 shares in the last quarter. 74.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ PETQ opened at $34.31 on Tuesday. The stock has a market cap of $1.01 billion, a P/E ratio of 88.77, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.90 and a current ratio of 2.00. PetIQ Inc has a 1-year low of $17.03 and a 1-year high of $43.93.
PetIQ (NASDAQ:PETQ) last announced its quarterly earnings data on Tuesday, August 14th. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. The company had revenue of $171.10 million for the quarter, compared to analysts’ expectations of $148.48 million. PetIQ had a positive return on equity of 11.40% and a negative net margin of 0.76%. PetIQ’s quarterly revenue was up 96.2% on a year-over-year basis. As a group, equities analysts expect that PetIQ Inc will post 0.76 earnings per share for the current year.
In related news, CEO Mccord Christensen sold 15,474 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $28.02, for a total transaction of $433,581.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ecp Helios Partners Iv, L.P. sold 1,838,836 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $37.15, for a total value of $68,312,757.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,069,977 shares of company stock worth $113,988,145. 45.26% of the stock is currently owned by insiders.
PETQ has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of PetIQ in a report on Friday, August 24th. SunTrust Banks raised their price target on PetIQ to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. Raymond James reaffirmed a “buy” rating and issued a $45.00 price target (up previously from $33.00) on shares of PetIQ in a report on Wednesday, September 19th. CL King initiated coverage on PetIQ in a report on Friday, September 28th. They issued a “buy” rating and a $49.00 price target on the stock. Finally, Oppenheimer raised their price target on PetIQ from $28.00 to $50.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $40.67.
PetIQ Company Profile
PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.
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