Canaccord Genuity Begins Coverage on Heska Corporation (HSKA)
Equities researchers at Canaccord Genuity started coverage on shares of Heska Corporation (NASDAQ:HSKA) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set a “buy” rating on the medical research company’s stock.
Several other analysts have also recently weighed in on HSKA. BidaskClub cut Heska Corporation from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. B. Riley reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Heska Corporation in a report on Friday, July 28th. Aegis raised their price target on Heska Corporation from $114.50 to $129.50 and gave the company a “buy” rating in a report on Tuesday, August 1st. Benchmark Co. raised their price target on Heska Corporation from $106.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised Heska Corporation from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Heska Corporation presently has an average rating of “Hold” and an average target price of $105.20.
Shares of Heska Corporation (HSKA) opened at 91.38 on Thursday. The stock’s 50 day moving average price is $94.79 and its 200 day moving average price is $98.34. Heska Corporation has a 12-month low of $46.51 and a 12-month high of $115.00. The company has a market capitalization of $660.31 million, a PE ratio of 46.57 and a beta of 0.84.
Heska Corporation (NASDAQ:HSKA) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.07. Heska Corporation had a return on equity of 15.87% and a net margin of 10.70%. The firm had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $33.35 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts forecast that Heska Corporation will post $2.04 earnings per share for the current year.
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In related news, CFO John Mcmahon sold 2,608 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $101.17, for a total transaction of $263,851.36. Following the transaction, the chief financial officer now directly owns 193 shares of the company’s stock, valued at approximately $19,525.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nancy Wisnewski sold 825 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $102.21, for a total value of $84,323.25. Following the transaction, the executive vice president now directly owns 38,114 shares in the company, valued at $3,895,631.94. The disclosure for this sale can be found here. Company insiders own 14.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new position in shares of Heska Corporation during the 1st quarter valued at about $101,000. Royal Bank of Canada raised its holdings in shares of Heska Corporation by 96.9% during the 2nd quarter. Royal Bank of Canada now owns 1,014 shares of the medical research company’s stock valued at $103,000 after buying an additional 499 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Heska Corporation by 1,306.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,167 shares of the medical research company’s stock valued at $123,000 after buying an additional 1,084 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Heska Corporation during the 2nd quarter valued at about $127,000. Finally, LS Investment Advisors LLC raised its holdings in shares of Heska Corporation by 411.2% during the 2nd quarter. LS Investment Advisors LLC now owns 1,278 shares of the medical research company’s stock valued at $130,000 after buying an additional 1,028 shares in the last quarter. 81.36% of the stock is currently owned by institutional investors.
About Heska Corporation
Heska Corporation sells veterinary diagnostic and specialty products. The Company operates through two segments: Core Companion Animal Health (CCA) and Other Vaccines, Pharmaceuticals and Products (OVP). The CCA segment includes, primarily for canine and feline use, blood testing instruments and supplies, digital imaging products, software and services, local and cloud-based data services, allergy testing and immunotherapy, and single use offerings, such as in-clinic diagnostic tests and heartworm preventive products.
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