Heska Corporation (HSKA) Rating Lowered to Hold at Zacks Investment Research
Heska Corporation (NASDAQ:HSKA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Heska Corporation is focused on the discovery, development and marketing of companion animal health products. In addition to manufacturing certain of companion animal products, the company’s primary manufacturing subsidiary, Diamond Animal Health, Inc., also manufactures animal health vaccine products which are marketed and distributed by third parties. In addition to manufacturing veterinary allergy products for marketing and sale by the company, subsidiaries, Center Laboratories, Inc. and CMG-Heska Allergy Products S.A., also manufacture and sell human allergy products. “
A number of other equities analysts have also recently issued reports on the company. BidaskClub cut Heska Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Benchmark Co. reiterated a “buy” rating and issued a $120.00 target price (up previously from $106.00) on shares of Heska Corporation in a research note on Wednesday, August 9th. B. Riley reiterated a “neutral” rating and issued a $96.50 target price on shares of Heska Corporation in a research note on Thursday, August 3rd. Finally, Aegis lifted their target price on Heska Corporation from $114.50 to $129.50 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $105.20.
Heska Corporation (NASDAQ HSKA) opened at 89.44 on Wednesday. The company has a 50-day moving average of $94.97 and a 200-day moving average of $98.39. The stock has a market cap of $646.29 million, a PE ratio of 45.59 and a beta of 0.85. Heska Corporation has a 12 month low of $46.51 and a 12 month high of $115.00.
Heska Corporation (NASDAQ:HSKA) last released its earnings results on Thursday, August 3rd. The medical research company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Heska Corporation had a return on equity of 15.87% and a net margin of 10.70%. The firm had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $33.35 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities analysts forecast that Heska Corporation will post $2.04 EPS for the current fiscal year.
In related news, CFO John Mcmahon sold 2,608 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $101.17, for a total value of $263,851.36. Following the transaction, the chief financial officer now owns 193 shares of the company’s stock, valued at $19,525.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Wisnewski sold 825 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $102.21, for a total value of $84,323.25. Following the transaction, the executive vice president now owns 38,114 shares in the company, valued at $3,895,631.94. The disclosure for this sale can be found here. Insiders own 14.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of HSKA. Victory Capital Management Inc. purchased a new stake in shares of Heska Corporation in the 1st quarter worth $101,000. Royal Bank of Canada grew its position in shares of Heska Corporation by 96.9% during the 2nd quarter. Royal Bank of Canada now owns 1,014 shares of the medical research company’s stock worth $103,000 after buying an additional 499 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Heska Corporation by 1,306.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,167 shares of the medical research company’s stock worth $123,000 after buying an additional 1,084 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Heska Corporation during the 2nd quarter worth $127,000. Finally, LS Investment Advisors LLC grew its position in shares of Heska Corporation by 411.2% during the 2nd quarter. LS Investment Advisors LLC now owns 1,278 shares of the medical research company’s stock worth $130,000 after buying an additional 1,028 shares in the last quarter. 81.36% of the stock is owned by institutional investors and hedge funds.
About Heska Corporation
Heska Corporation sells veterinary diagnostic and specialty products. The Company operates through two segments: Core Companion Animal Health (CCA) and Other Vaccines, Pharmaceuticals and Products (OVP). The CCA segment includes, primarily for canine and feline use, blood testing instruments and supplies, digital imaging products, software and services, local and cloud-based data services, allergy testing and immunotherapy, and single use offerings, such as in-clinic diagnostic tests and heartworm preventive products.
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