PetMed Express (NASDAQ:PETS) Releases Earnings Results, Misses Estimates By $0.45 EPS

PetMed Express (NASDAQ:PETS) posted its earnings results on Friday. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.45), reports. PetMed Express had a negative return on equity of 6.76% and a negative net margin of 2.76%.

PetMed Express Price Performance

Shares of PETS stock traded down $0.05 during trading hours on Friday, reaching $3.60. The company had a trading volume of 477,306 shares, compared to its average volume of 792,454. PetMed Express has a 12 month low of $1.57 and a 12 month high of $5.58. The business has a fifty day simple moving average of $2.34 and a 200-day simple moving average of $2.89. The company has a market cap of $76.93 million, a price-to-earnings ratio of -12.00 and a beta of 0.75.

Wall Street Analysts Forecast Growth

PETS has been the topic of several analyst reports. Wall Street Zen lowered PetMed Express from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Zacks Research upgraded shares of PetMed Express from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PetMed Express in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, PetMed Express has a consensus rating of “Sell” and a consensus price target of $3.20.

Institutional Trading of PetMed Express

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in PetMed Express by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 481,517 shares of the company’s stock valued at $1,209,000 after purchasing an additional 24,624 shares during the last quarter. Man Group plc lifted its holdings in shares of PetMed Express by 7.1% during the 3rd quarter. Man Group plc now owns 151,039 shares of the company’s stock worth $379,000 after acquiring an additional 9,989 shares during the last quarter. Bridgeway Capital Management LLC grew its position in PetMed Express by 164.3% in the third quarter. Bridgeway Capital Management LLC now owns 107,816 shares of the company’s stock worth $271,000 after acquiring an additional 67,016 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in PetMed Express in the third quarter valued at $153,000. Finally, Goldman Sachs Group Inc. raised its position in PetMed Express by 59.3% during the first quarter. Goldman Sachs Group Inc. now owns 33,209 shares of the company’s stock valued at $139,000 after purchasing an additional 12,360 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

PetMed Express Company Profile

PetMed Express, Inc operates as an online and catalog-based pet pharmacy and retail supplier under the 1-800-PetMeds brand name. The company distributes prescription and non‐prescription medications, nutritional supplements, flea and tick control products, and a range of pet health supplies directly to consumers. Through its licensed veterinary pharmacy in Delray Beach, Florida, PetMed Express fills orders for dogs, cats and other companion animals, offering both branded and generic products alongside its own private‐label formulations.

Founded in 1996 by Marc Puleo, PetMed Express built its business on the premise of convenience and cost savings for pet owners seeking reliable access to veterinary medications.