Gamco Investors INC. ET AL acquired a new position in Covetrus Inc (NASDAQ:CVET) during the third quarter, according to its most recent filing with the SEC. The firm acquired 196,594 shares of the company’s stock, valued at approximately $2,338,000. Gamco Investors INC. ET AL owned about 0.18% of Covetrus as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Macquarie Group Ltd. bought a new stake in shares of Covetrus in the 2nd quarter worth approximately $30,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Covetrus in the third quarter worth $31,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Covetrus in the third quarter worth $53,000. M&R Capital Management Inc. purchased a new position in shares of Covetrus in the third quarter worth $59,000. Finally, LS Investment Advisors LLC purchased a new position in shares of Covetrus in the third quarter worth $63,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.
In other news, insider Erin Powers Brennan purchased 1,684 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $14.90 per share, with a total value of $25,091.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Several research firms have recently weighed in on CVET. Zacks Investment Research upgraded Covetrus from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Goldman Sachs Group began coverage on Covetrus in a research note on Monday, September 9th. They issued a “sell” rating and a $11.00 price target for the company. Stifel Nicolaus decreased their price target on Covetrus from $30.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Raymond James decreased their price target on Covetrus from $45.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Finally, ValuEngine cut Covetrus from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.00.
Shares of CVET stock traded up $0.12 during mid-day trading on Friday, hitting $10.19. The company’s stock had a trading volume of 2,783,700 shares, compared to its average volume of 1,826,788. The business has a 50-day moving average price of $10.73 and a 200 day moving average price of $20.10. Covetrus Inc has a 52-week low of $8.16 and a 52-week high of $43.83. The company has a quick ratio of 0.91, a current ratio of 1.74 and a debt-to-equity ratio of 0.51.
Covetrus (NASDAQ:CVET) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.05 billion. Equities analysts forecast that Covetrus Inc will post 0.35 earnings per share for the current fiscal year.
Covetrus, Inc engages in developing technologies and services for animal health industry. It also provides products, software, and services to help drive improved patient health, strong client relationships, and successful financial outcomes for veterinary professionals. The company was founded on April 13, 2018 and is headquartered in Melville, NY.
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