Berenberg Bank Reaffirms Buy Rating for CVS Group (LON:CVSG)

CVS Group (LON:CVSG)‘s stock had its “buy” rating reissued by analysts at Berenberg Bank in a research note issued to investors on Thursday,Digital Look reports. They currently have a GBX 2,000 target price on the stock. Berenberg Bank’s price objective suggests a potential upside of 67.22% from the stock’s current price.

Separately, Jefferies Financial Group cut CVS Group to a “hold” rating and lowered their price target for the company from GBX 1,420 to GBX 1,350 in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 1,710.

CVS Group Stock Performance

CVS Group stock opened at GBX 1,196 on Thursday. The stock has a fifty day moving average price of GBX 1,222.74 and a 200 day moving average price of GBX 1,247.08. CVS Group has a 52 week low of GBX 1,062 and a 52 week high of GBX 1,648. The firm has a market capitalization of £827.63 million, a P/E ratio of 17.36, a PEG ratio of 1.77 and a beta of 1.06. 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 announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 26th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at CVS Group

In other news, insider Scott Morrison acquired 987 shares of the company’s stock in a transaction dated 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. 1.43% of the stock is currently 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.