Credit Suisse AG decreased its position in shares of Covetrus Inc (NASDAQ:CVET) by 51.4% in the fourth quarter, HoldingsChannel reports. The fund owned 179,638 shares of the company’s stock after selling 189,964 shares during the quarter. Credit Suisse AG’s holdings in Covetrus were worth $2,371,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Voloridge Investment Management LLC purchased a new stake in Covetrus during the third quarter valued at approximately $2,112,000. Millennium Management LLC purchased a new position in shares of Covetrus in the third quarter worth $673,000. Russell Investments Group Ltd. purchased a new position in shares of Covetrus in the third quarter worth $354,000. Arden Trust Co purchased a new position in shares of Covetrus in the fourth quarter worth $194,000. Finally, Moors & Cabot Inc. purchased a new position in shares of Covetrus in the fourth quarter worth $270,000. 98.79% of the stock is owned by institutional investors.
CVET has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Covetrus from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. ValuEngine raised shares of Covetrus from a “hold” rating to a “buy” rating in a report on Monday, February 10th. BidaskClub raised shares of Covetrus from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, Credit Suisse Group raised their price target on shares of Covetrus from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Covetrus presently has a consensus rating of “Hold” and a consensus target price of $15.60.
NASDAQ CVET opened at $7.45 on Thursday. The company has a fifty day simple moving average of $10.43 and a two-hundred day simple moving average of $12.11. The stock has a market cap of $798.71 million and a P/E ratio of -0.86. Covetrus Inc has a 12-month low of $4.05 and a 12-month high of $33.93. The company has a current ratio of 1.62, a quick ratio of 0.85 and a debt-to-equity ratio of 0.90.
Covetrus (NASDAQ:CVET) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.06. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $985.29 million. Covetrus had a negative net margin of 24.30% and a positive return on equity of 3.70%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts forecast that Covetrus Inc will post 0.62 earnings per share for the current year.
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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