Covetrus (NASDAQ:CVET) Coverage Initiated by Analysts at Goldman Sachs Group
Goldman Sachs Group began coverage on shares of Covetrus (NASDAQ:CVET) in a research note published on Monday, 24/7 WallStreet reports. The firm issued a sell rating and a $11.00 target price on the stock.
Several other brokerages have also recently issued reports on CVET. Stifel Nicolaus reduced their price objective on Covetrus from $30.00 to $18.00 and set a hold rating on the stock in a research note on Wednesday, August 14th. Raymond James reduced their price objective on Covetrus from $45.00 to $21.00 and set an outperform rating on the stock in a research note on Thursday, August 15th. Credit Suisse Group set a $15.00 price objective on Covetrus and gave the stock a hold rating in a research note on Friday, August 16th. Zacks Investment Research cut Covetrus from a buy rating to a hold rating in a research note on Wednesday, July 17th. Finally, ValuEngine cut Covetrus from a buy rating to a hold rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Covetrus has an average rating of Hold and an average price target of $18.80.
Shares of CVET opened at $14.44 on Monday. The business’s fifty day moving average price is $17.73 and its 200 day moving average price is $26.64. Covetrus has a 12-month low of $12.22 and a 12-month high of $43.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.91 and a current ratio of 1.74.
In related news, insider Erin Powers Brennan bought 1,684 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $14.90 per share, for a total transaction of $25,091.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of hedge funds have recently bought and sold shares of CVET. BlackRock Inc. bought a new stake in Covetrus in the second quarter valued at $207,795,000. Park West Asset Management LLC bought a new stake in Covetrus in the second quarter valued at $24,460,000. Mackenzie Financial Corp bought a new stake in Covetrus in the second quarter valued at $18,529,000. Gamble Jones Investment Counsel bought a new stake in Covetrus in the second quarter valued at $1,908,000. Finally, Treasurer of the State of North Carolina bought a new stake in Covetrus in the second quarter valued at $1,166,000. Institutional investors own 82.21% of the company’s stock.
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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