Heska Corp. (HSKA) Downgraded by Zacks Investment Research to “Hold”
Heska Corp. (NASDAQ:HSKA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Heska Corporation is focused on the discovery, development and marketing of companion animal health products. In addition to manufacturing certain of companion animal products, the company’s primary manufacturing subsidiary, Diamond Animal Health, Inc., also manufactures animal health vaccine products which are marketed and distributed by third parties. In addition to manufacturing veterinary allergy products for marketing and sale by the company, subsidiaries, Center Laboratories, Inc. and CMG-Heska Allergy Products S.A., also manufacture and sell human allergy products. “
Other equities research analysts have also recently issued reports about the company. B. Riley cut Heska Corp. to a “neutral” rating and set a $53.00 price objective for the company. in a research note on Monday, September 26th. Sidoti assumed coverage on Heska Corp. in a research note on Friday, July 1st. They set a “buy” rating and a $49.00 price objective for the company. Finally, Gabelli cut Heska Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.00.
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Shares of Heska Corp. (NASDAQ:HSKA) traded down 0.02% on Wednesday, reaching $54.85. The company’s stock had a trading volume of 109,233 shares. Heska Corp. has a 12-month low of $26.26 and a 12-month high of $57.41. The stock has a market cap of $377.09 million, a PE ratio of 55.57 and a beta of 0.41. The firm has a 50 day moving average price of $53.88 and a 200-day moving average price of $41.29.
Heska Corp. (NASDAQ:HSKA) last issued its earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.17. The business earned $30 million during the quarter, compared to analysts’ expectations of $28.47 million. Heska Corp. had a return on equity of 8.75% and a net margin of 6.22%. The firm’s quarterly revenue was up 25.5% compared to the same quarter last year. Equities research analysts expect that Heska Corp. will post $1.12 EPS for the current year.
In related news, CEO Kevin S. Wilson sold 5,465 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $44.31, for a total transaction of $242,154.15. Following the transaction, the chief executive officer now directly owns 144,535 shares of the company’s stock, valued at approximately $6,404,345.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin S. Wilson sold 3,779 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $44.02, for a total value of $166,351.58. Following the transaction, the chief executive officer now directly owns 140,756 shares in the company, valued at $6,196,079.12. The disclosure for this sale can be found here. Corporate insiders own 15.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY raised its position in shares of Heska Corp. by 7.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,853 shares of the company’s stock valued at $180,000 after buying an additional 320 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Heska Corp. by 1.8% in the second quarter. Prudential Financial Inc. now owns 22,650 shares of the company’s stock worth $842,000 after buying an additional 400 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Heska Corp. by 6.1% in the second quarter. California State Teachers Retirement System now owns 12,790 shares of the company’s stock worth $475,000 after buying an additional 735 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Heska Corp. by 10.8% in the second quarter. Teachers Advisors Inc. now owns 9,129 shares of the company’s stock worth $339,000 after buying an additional 893 shares in the last quarter. Finally, Strs Ohio raised its position in shares of Heska Corp. by 8.6% in the second quarter. Strs Ohio now owns 16,500 shares of the company’s stock worth $613,000 after buying an additional 1,300 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.
Heska Corp. Company Profile
Heska Corporation develops, manufactures, markets, sells and supports veterinary products. The Company focuses on the canine and feline companion animal health markets. Its segments include Core Companion Animal Health segment, which includes, primarily for canine and feline use, blood testing instruments and supplies, digital imaging products, software and services, and single use products and services, such as heartworm diagnostic tests, heartworm preventive products, allergy immunotherapy products and allergy testing, and Other Vaccines, Pharmaceuticals and Products segment, which includes private label vaccine and pharmaceutical production, primarily for cattle but also for other animals, including small mammals.
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