Covance Inc. Sets New 1-Year High at $100.30 (CVD)
Covance (NYSE:CVD) set a new 52-week high during trading hours on Wednesday, American Banking News.com reports. The company traded as high as $100.30 and last traded at $99.65, with a volume of 1,253,803 shares. The stock had previously closed at $94.27.
A number of analysts have recently weighed in on CVD shares. Analysts at Goldman Sachs Group Inc. downgraded shares of Covance from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, January 21st. They now have a $101.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Jefferies Group upgraded shares of Covance from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, January 7th. Finally, analysts at Deutsche Bank initiated coverage on shares of Covance in a research note to investors on Wednesday, November 20th. They set a “hold” rating and a $81.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $85.60.
Covance has a 1-year low of $65.40 and a 1-year high of $97.48. The stock’s 50-day moving average is $91.34 and its 200-day moving average is $86.4. The company has a market cap of $5.590 billion and a P/E ratio of 31.75.
Covance (NYSE:CVD) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.87 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.84 by $0.03. The company had revenue of $623.00 million for the quarter, compared to the consensus estimate of $613.80 million. During the same quarter last year, the company posted $0.73 earnings per share. Covance’s revenue was up 10.8% compared to the same quarter last year. Analysts expect that Covance will post $3.81 EPS for the current fiscal year.
Covance Inc is a drug development services company providing a range of early-stage and late-stage product development services on a worldwide basis primarily to the pharmaceutical, biotechnology and medical device industries.
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