CVS Group (LON:CVSG) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of CVS Group plc (LON:CVSG) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,247.81 and traded as low as GBX 1,170. CVS Group shares last traded at GBX 1,173, with a volume of 136,403 shares trading hands.

Analyst Upgrades and Downgrades

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

CVS Group Stock Performance

The business’s 50 day simple moving average is GBX 1,192.60 and its two-hundred day simple moving average is GBX 1,247.81. The firm has a market capitalization of £820.71 million, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 92.34.

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

Insider Activity at CVS Group

In other news, insider Scott Morrison acquired 987 shares of CVS Group stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average price of GBX 1,270 per share, for a total transaction of £12,534.90. 1.43% of the stock is owned by insiders.

About CVS Group

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.