CVS Group (LON:CVSG) Given Buy Rating at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of CVS Group (LON:CVSG) in a research report released on Thursday,Digital Look reports. The firm currently has a GBX 2,000 target price on the stock.

Separately, Jefferies Financial Group downgraded CVS Group to a “hold” rating and decreased their price target for the stock from GBX 1,420 to GBX 1,350 in a research note on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, CVS Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,710.

CVS Group Trading Down 6.9%

CVS Group stock opened at GBX 1,212 on Thursday. The company has a debt-to-equity ratio of 92.34, a current ratio of 1.07 and a quick ratio of 0.90. The company has a market capitalization of £838.70 million, a price-to-earnings ratio of 17.59, a PEG ratio of 1.77 and a beta of 1.06. CVS Group has a one year low of GBX 1,062 and a one year high of GBX 1,648. The company’s fifty day moving average price is GBX 1,222.40 and its two-hundred day moving average price is GBX 1,247.44.

CVS Group announced that its Board of Directors has authorized a share buyback program on Tuesday, May 26th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Scott Morrison acquired 987 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average cost of GBX 1,270 per share, with a total value of £12,534.90. Corporate insiders own 1.43% of the company’s stock.

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.