CVS Group (LON:CVSG) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

CVS Group plc (LON:CVSG)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,249.93 and traded as low as GBX 1,222. CVS Group shares last traded at GBX 1,231, with a volume of 332,471 shares traded.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVSG. Berenberg Bank reiterated a “buy” rating and set a GBX 2,000 target price on shares of CVS Group in a research report on Tuesday, May 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 1,900 target price on shares of CVS Group in a research report on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CVS Group presently has an average rating of “Moderate Buy” and an average target price of GBX 1,724.

CVS Group Stock Up 0.6%

The firm has a market cap of £861.29 million, a price-to-earnings ratio of 17.87, a PEG ratio of 1.77 and a beta of 1.04. The company has a debt-to-equity ratio of 121.52, a quick ratio of 0.90 and a current ratio of 1.07. The business’s 50-day moving average is GBX 1,191.65 and its 200-day moving average is GBX 1,249.93.

CVS Group announced that its board has authorized a stock repurchase plan on Tuesday, May 26th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Scott Morrison acquired 987 shares of the stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of GBX 1,270 per share, for a total transaction of £12,534.90. Insiders own 1.43% of the company’s stock.

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.