Shares of Covetrus Inc (NASDAQ:CVET) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $10.01 and last traded at $10.02, with a volume of 89075 shares traded. The stock had previously closed at $10.14.
CVET has been the subject of a number of research analyst reports. Credit Suisse Group lowered their price objective on shares of Covetrus from $15.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday. ValuEngine cut shares of Covetrus from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Raymond James lowered their price objective on shares of Covetrus from $45.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Zacks Investment Research cut shares of Covetrus from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th. Finally, Goldman Sachs Group initiated coverage on shares of Covetrus in a research report on Monday, September 9th. They set a “sell” rating and a $11.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Covetrus currently has a consensus rating of “Hold” and a consensus target price of $18.00.
The stock’s 50-day moving average is $12.16 and its 200-day moving average is $22.18. The company has a current ratio of 1.74, a quick ratio of 0.91 and a debt-to-equity ratio of 0.51.
In related news, insider Erin Powers Brennan acquired 1,684 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $14.90 per share, for a total transaction of $25,091.60. The transaction was disclosed in a filing with the SEC, which is available through this link.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new position in Covetrus in the 2nd quarter valued at approximately $30,000. M&R Capital Management Inc. acquired a new position in Covetrus in the 3rd quarter valued at approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Covetrus in the 3rd quarter valued at approximately $73,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Covetrus in the 3rd quarter valued at approximately $90,000. Finally, Envestnet Asset Management Inc. acquired a new position in Covetrus in the 3rd quarter valued at approximately $145,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Covetrus Company Profile (NASDAQ:CVET)
Covetrus, Inc engages in developing technologies and services for animal health industry. It also provides products, software, and services to help drive improved patient health, strong client relationships, and successful financial outcomes for veterinary professionals. The company was founded on April 13, 2018 and is headquartered in Melville, NY.
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