Covetrus (NASDAQ:CVET) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “Covetrus, Inc. provides animal-health technology and services. The Company combines practice management software, prescription management, multi-channel client engagement services and supply chain infrastructure to promote connectivity between veterinarians and their clients. Covetrus, Inc. is based in NY, United States. “
A number of other equities research analysts have also recently commented on CVET. Svb Leerink reissued an outperform rating on shares of Covetrus in a report on Wednesday, March 20th. Guggenheim restated a buy rating and set a $95.00 price objective (up previously from $90.00) on shares of VF in a research report on Thursday, May 23rd. Cleveland Research started coverage on Covetrus in a research report on Friday, May 10th. They set a hold rating for the company. Credit Suisse Group started coverage on Covetrus in a research report on Thursday, April 4th. They set a neutral rating and a $35.00 price objective for the company. Finally, Stifel Nicolaus set a $154.00 price objective on argenx and gave the company a buy rating in a research report on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Covetrus has an average rating of Hold and an average price target of $34.75.
Covetrus (NASDAQ:CVET) last posted its quarterly earnings results on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.03). The business had revenue of $941.00 million during the quarter, compared to analyst estimates of $993.41 million. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, analysts predict that Covetrus will post 0.63 earnings per share for the current fiscal year.
In other news, insider Timothy Ludlow sold 81,498 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $28.01, for a total transaction of $2,282,758.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Betsy S. Atkins sold 150,845 shares of Covetrus stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $27.80, for a total value of $4,193,491.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 233,028 shares of company stock valued at $6,495,656.
Covetrus Company Profile
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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