Stifel Nicolaus started coverage on shares of Covetrus (NASDAQ:CVET) in a report published on Wednesday morning, BenzingaRatingsTable reports. The firm issued a hold rating and a $30.00 price objective on the stock.
Several other brokerages have also recently weighed in on CVET. Raymond James began coverage on shares of Covetrus in a research note on Wednesday, February 27th. They set an outperform rating and a $45.00 price target on the stock. Svb Leerink reiterated an outperform rating on shares of Covetrus in a research note on Wednesday, March 20th. Zacks Investment Research cut shares of Covetrus from a hold rating to a sell rating in a research note on Friday, April 19th. Credit Suisse Group began coverage on shares of Covetrus in a research note on Thursday, April 4th. They set a neutral rating and a $35.00 price target on the stock. Finally, Cleveland Research began coverage on shares of Covetrus in a research note on Friday, May 10th. They set a hold rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $36.67.
Shares of Covetrus stock opened at $26.13 on Wednesday. Covetrus has a 1-year low of $24.83 and a 1-year high of $43.83. The company has a current ratio of 1.82, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.
Covetrus (NASDAQ:CVET) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.03). The firm had revenue of $941.00 million for the quarter, compared to analyst estimates of $993.41 million. Covetrus’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS. As a group, sell-side analysts forecast that Covetrus will post 0.63 earnings per share for the current year.
In related news, insider Timothy Ludlow sold 81,498 shares of Covetrus stock in a transaction on Friday, May 17th. The shares were sold at an average price of $28.01, for a total transaction of $2,282,758.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Betsy S. Atkins sold 150,845 shares of Covetrus stock in a transaction on Friday, May 17th. The shares were sold at an average price of $27.80, for a total transaction of $4,193,491.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 233,028 shares of company stock worth $6,495,656.
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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