Morgan Stanley Cuts PetMed Express (NASDAQ:PETS) Price Target to $3.20

PetMed Express (NASDAQ:PETS) had its target price lowered by Morgan Stanley from $3.50 to $3.20 in a research note published on Thursday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Separately, StockNews.com raised PetMed Express from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th.

PetMed Express Stock Up 1.6 %

PetMed Express stock opened at $3.09 on Thursday. The business’s 50-day simple moving average is $3.91 and its 200 day simple moving average is $4.49. The stock has a market cap of $63.83 million, a price-to-earnings ratio of 309.31 and a beta of 0.99. PetMed Express has a 12-month low of $2.90 and a 12-month high of $6.85.

PetMed Express (NASDAQ:PETS) last issued its earnings results on Monday, February 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). PetMed Express had a net margin of 0.14% and a return on equity of 0.37%. As a group, sell-side analysts expect that PetMed Express will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. R Squared Ltd bought a new position in shares of PetMed Express during the fourth quarter worth $31,000. Quarry LP acquired a new stake in PetMed Express during the 4th quarter worth $47,000. Virtu Financial LLC bought a new position in PetMed Express during the fourth quarter worth about $58,000. Boothbay Fund Management LLC acquired a new position in PetMed Express in the fourth quarter valued at about $59,000. Finally, Squarepoint Ops LLC increased its holdings in shares of PetMed Express by 41.4% in the fourth quarter. Squarepoint Ops LLC now owns 17,686 shares of the company’s stock worth $85,000 after acquiring an additional 5,180 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

About PetMed Express

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.