Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Covetrus Inc (NASDAQ:CVET) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,580 shares of the company’s stock, valued at approximately $90,000.
A number of other hedge funds have also bought and sold shares of CVET. Macquarie Group Ltd. bought a new stake in shares of Covetrus in the second quarter valued at about $30,000. M&R Capital Management Inc. bought a new stake in Covetrus during the third quarter worth about $59,000. State of Alaska Department of Revenue bought a new stake in Covetrus during the third quarter worth about $205,000. Hancock Whitney Corp bought a new stake in Covetrus during the second quarter worth about $728,000. Finally, Treasurer of the State of North Carolina bought a new stake in Covetrus during the second quarter worth about $1,166,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Several analysts recently issued reports on CVET shares. Goldman Sachs Group started coverage on Covetrus in a report on Monday, September 9th. They set a “sell” rating and a $11.00 target price on the stock. Stifel Nicolaus dropped their target price on Covetrus from $30.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Zacks Investment Research lowered Covetrus from a “hold” rating to a “sell” rating in a report on Thursday. Credit Suisse Group set a $15.00 target price on Covetrus and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, ValuEngine lowered Covetrus from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.80.
Shares of NASDAQ CVET opened at $11.32 on Friday. The business’s 50 day moving average price is $12.75 and its two-hundred day moving average price is $23.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.74 and a quick ratio of 0.91. Covetrus Inc has a twelve month low of $10.75 and a twelve month high of $43.83.
Covetrus (NASDAQ:CVET) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.05 billion. As a group, equities research analysts expect that Covetrus Inc will post 0.4 EPS for the current fiscal year.
In other Covetrus news, insider Erin Powers Brennan purchased 1,684 shares of the stock in a transaction on 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 Securities & Exchange Commission, which can be accessed through this hyperlink.
Covetrus Company Profile
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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