Several other brokerages have also recently issued reports on CVET. Raymond James cut Covetrus from an “outperform” rating to a “market perform” rating in a research note on Monday, May 23rd. William Blair cut Covetrus from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 25th. The Goldman Sachs Group reduced their price objective on Covetrus from $18.00 to $16.00 and set a “sell” rating on the stock in a research note on Thursday, May 19th. Morgan Stanley raised their target price on Covetrus from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, May 23rd. Finally, Barclays cut Covetrus from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $26.00 to $21.00 in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.
CVET stock opened at $20.70 on Monday. Covetrus has a twelve month low of $13.39 and a twelve month high of $29.01. The company has a current ratio of 1.86, a quick ratio of 1.03 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $2.89 billion, a P/E ratio of -69.00 and a beta of 1.92. The firm has a 50 day simple moving average of $17.07 and a 200-day simple moving average of $17.50.
Several hedge funds and other institutional investors have recently modified their holdings of CVET. BlackRock Inc. grew its holdings in Covetrus by 3.7% during the fourth quarter. BlackRock Inc. now owns 16,486,343 shares of the company’s stock worth $329,231,000 after acquiring an additional 591,380 shares during the period. Vanguard Group Inc. grew its holdings in Covetrus by 2.9% during the first quarter. Vanguard Group Inc. now owns 11,549,462 shares of the company’s stock worth $193,916,000 after acquiring an additional 322,572 shares during the period. Wellington Management Group LLP grew its holdings in Covetrus by 6.2% during the first quarter. Wellington Management Group LLP now owns 8,357,496 shares of the company’s stock worth $140,323,000 after acquiring an additional 485,051 shares during the period. JPMorgan Chase & Co. grew its holdings in Covetrus by 3.2% during the first quarter. JPMorgan Chase & Co. now owns 4,945,606 shares of the company’s stock worth $83,037,000 after acquiring an additional 151,302 shares during the period. Finally, State Street Corp grew its holdings in Covetrus by 1.3% during the first quarter. State Street Corp now owns 3,843,625 shares of the company’s stock worth $64,534,000 after acquiring an additional 49,718 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.
About Covetrus (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.
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