CVS Group (LON:CVSG) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

CVS Group plc (LON:CVSG) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,232.17 and traded as high as GBX 1,301. CVS Group shares last traded at GBX 1,297.44, with a volume of 1,635,865 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CVSG shares. Berenberg Bank restated a “buy” rating and set a GBX 2,000 target price on shares of CVS Group in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 1,700 price objective on shares of CVS Group in a report on Monday, July 27th. Finally, Jefferies Financial Group raised their target price on shares of CVS Group from GBX 1,350 to GBX 1,400 and gave the company a “hold” rating in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 1,720.

CVS Group Stock Performance

The stock’s fifty day moving average is GBX 1,281.19 and its 200-day moving average is GBX 1,232.17. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 92.34. The stock has a market cap of £881.87 million, a price-to-earnings ratio of 18.83, a PEG ratio of 1.77 and a beta of 1.07.

CVS Group announced that its Board of Directors has initiated a stock repurchase program on Tuesday, May 26th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider David Wilton purchased 1,500 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were purchased at an average price of GBX 1,276 per share, with a total value of £19,140. Also, insider Joanne Shaw acquired 1,592 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of GBX 1,287 per share, for a total transaction of £20,489.04. In the last three months, insiders acquired 3,860 shares of company stock valued at $4,956,696. 1.48% of the stock is owned by corporate 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.