CVS Group (LON:CVSG) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of CVS Group plc (LON:CVSG) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,246.80 and traded as low as GBX 1,235. CVS Group shares last traded at GBX 1,257, with a volume of 201,668 shares.

Wall Street Analysts Forecast Growth

CVSG has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 1,900 price objective on shares of CVS Group in a research report on Thursday, March 5th. Berenberg Bank reissued a “buy” rating and set a GBX 2,000 target price on shares of CVS Group in a research note on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 1,724.

CVS Group Trading Up 0.8%

The stock’s 50-day moving average price is GBX 1,179.97 and its 200 day moving average price is GBX 1,246.80. The company has a debt-to-equity ratio of 121.52, a current ratio of 1.07 and a quick ratio of 0.90. The firm has a market capitalization of £888.89 million, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.77 and a beta of 1.02.

CVS Group declared that its board has approved a stock repurchase program on Tuesday, May 26th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Scott Morrison bought 987 shares of the stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of GBX 1,270 per share, for a total transaction of £12,534.90. 1.42% of the stock is currently owned by company insiders.

CVS Group Company Profile

CVS Group is a leading provider of veterinary services, operating in the UK and Australia, listed on the Main Market of the London Stock Exchange. CVS is focused on providing high-quality clinical services to its clients and their animals, with outstanding and dedicated clinical teams and support colleagues at the core of its strategy.

The Group operates from over 475 veterinary practices across its two territories, including specialist referral hospitals and dedicated out-of-hours sites. Alongside the core Veterinary Practices division, CVS operates Laboratories (providing diagnostic services to CVS and third-parties) and an online retail business (“Animed Direct”).

The Group employs c.8,900 personnel, including c.2,400 veterinary surgeons and c.3,300 nurses.