Covetrus (NASDAQ:CVET – Get Rating) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Monday, The Fly reports.
Several other equities analysts have also recently issued reports on CVET. The Goldman Sachs Group decreased their price objective on Covetrus from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday. Stifel Nicolaus reiterated a “buy” rating on shares of Covetrus in a research note on Friday. Zacks Investment Research upgraded Covetrus from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. Finally, Barclays decreased their target price on Covetrus from $38.00 to $26.00 in a research note on Monday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.86.
NASDAQ CVET opened at $19.71 on Monday. The company has a market cap of $2.75 billion, a P/E ratio of -65.70 and a beta of 1.98. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.86 and a quick ratio of 1.03. The stock has a 50-day moving average of $15.97 and a two-hundred day moving average of $17.27. Covetrus has a 1-year low of $13.39 and a 1-year high of $29.01.
Large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in shares of Covetrus in the first quarter valued at approximately $43,000. Covestor Ltd acquired a new position in shares of Covetrus in the fourth quarter valued at approximately $47,000. Spire Wealth Management increased its holdings in shares of Covetrus by 208.4% in the fourth quarter. Spire Wealth Management now owns 2,794 shares of the company’s stock valued at $56,000 after purchasing an additional 1,888 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Covetrus in the first quarter valued at approximately $170,000. Finally, People s United Financial Inc. acquired a new position in shares of Covetrus in the third quarter valued at approximately $183,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.
Covetrus Company Profile (Get Rating)
Covetrus, Inc, together with its subsidiaries, operates as an animal-health technology and services company. It engages in the sale of animal-health consumable products, including proprietary and Covetrus branded products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, parasiticides, and vitamins and supplements to wholesale and retail customers.
- Get a free copy of the StockNews.com research report on Covetrus (CVET)
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