PetIQ Inc (PETQ) CEO Mccord Christensen Sells 60,000 Shares

PetIQ Inc (NASDAQ:PETQ) CEO Mccord Christensen sold 60,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $31.18, for a total transaction of $1,870,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mccord Christensen also recently made the following trade(s):

  • On Monday, October 1st, Mccord Christensen sold 160,000 shares of PetIQ stock. The stock was sold at an average price of $37.15, for a total transaction of $5,944,000.00.

Shares of PETQ traded up $0.85 during mid-day trading on Friday, hitting $32.28. 6,487 shares of the company were exchanged, compared to its average volume of 560,391. PetIQ Inc has a 1-year low of $17.56 and a 1-year high of $43.93. The company has a quick ratio of 1.10, a current ratio of 2.51 and a debt-to-equity ratio of 0.49. The company has a market cap of $890.30 million, a PE ratio of 81.28, a price-to-earnings-growth ratio of 1.67 and a beta of 1.52.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings results on Tuesday, November 13th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.22. PetIQ had a negative net margin of 0.12% and a positive return on equity of 11.68%. The firm had revenue of $131.40 million during the quarter, compared to the consensus estimate of $125.22 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 116.8% on a year-over-year basis. As a group, sell-side analysts expect that PetIQ Inc will post 0.76 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gradient Investments LLC acquired a new position in shares of PetIQ during the 2nd quarter worth about $1,068,000. Gamco Investors INC. ET AL purchased a new stake in PetIQ during the 2nd quarter valued at about $806,000. State of New Jersey Common Pension Fund D grew its stake in PetIQ by 6.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock valued at $39,310,000 after acquiring an additional 60,000 shares in the last quarter. Rhumbline Advisers purchased a new stake in PetIQ during the 2nd quarter valued at about $248,000. Finally, Creative Planning grew its stake in PetIQ by 44.5% during the 3rd quarter. Creative Planning now owns 20,250 shares of the company’s stock valued at $796,000 after acquiring an additional 6,235 shares in the last quarter. Hedge funds and other institutional investors own 78.45% of the company’s stock.

PETQ has been the subject of a number of analyst reports. CL King initiated coverage on shares of PetIQ in a research report on Friday, September 28th. They issued a “buy” rating and a $49.00 price objective for the company. SunTrust Banks upped their price objective on shares of PetIQ to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 15th. BidaskClub downgraded shares of PetIQ from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 15th. Raymond James reduced their price target on shares of PetIQ from $45.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, November 14th. Finally, Oppenheimer upped their price target on shares of PetIQ from $28.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, October 5th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.83.

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About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It provides veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats. The company offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

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