Insider Selling: Sandra L. Helton Sells 2,800 Shares of Covance Stock (CVD)
Covance (NYSE:CVD) Director Sandra L. Helton sold 2,800 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $99.03, for a total value of $277,284.00. Following the completion of the sale, the director now directly owns 15,688 shares in the company, valued at approximately $1,553,583. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on CVD shares. Analysts at Deutsche Bank raised their price target on shares of Covance from $81.00 to $97.00 in a research note on Thursday, February 6th. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Covance from $105.00 to $115.00 in a research note on Thursday, February 6th. Finally, analysts at Goldman Sachs downgraded shares of Covance from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 21st. They now have a $101.00 price target on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $89.09.
Covance (NYSE:CVD) traded down 0.16% on Tuesday, hitting $100.07. The stock had a trading volume of 477,537 shares. Covance has a 52-week low of $65.40 and a 52-week high of $100.76. The stock’s 50-day moving average is $92.75 and its 200-day moving average is $86.95. The company has a market cap of $5.506 billion and a price-to-earnings ratio of 31.82.
Covance (NYSE:CVD) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts predict that Covance will post $3.87 earnings per share 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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