Covetrus Inc (NASDAQ:CVET) Insider Erin Powers Brennan Buys 1,684 Shares of Stock

Covetrus Inc (NASDAQ:CVET) insider Erin Powers Brennan acquired 1,684 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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 SEC, which is accessible through this link.

CVET traded up $0.54 on Thursday, reaching $14.34. 20,761 shares of the company’s stock were exchanged, compared to its average volume of 2,436,123. The company’s 50 day simple moving average is $22.41. Covetrus Inc has a twelve month low of $12.22 and a twelve month high of $43.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.91 and a current ratio of 1.74.

Covetrus (NASDAQ:CVET) last posted its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.04). The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.05 billion. On average, sell-side analysts predict that Covetrus Inc will post 0.4 earnings per share for the current year.

A hedge fund recently bought a new stake in Covetrus stock. Gamble Jones Investment Counsel acquired a new position in shares of Covetrus Inc (NASDAQ:CVET) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 77,986 shares of the company’s stock, valued at approximately $1,908,000. Gamble Jones Investment Counsel owned 0.07% of Covetrus at the end of the most recent quarter. 75.10% of the stock is owned by institutional investors.

A number of research analysts have recently commented on CVET shares. Stifel Nicolaus dropped their price objective on shares of Covetrus from $30.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Credit Suisse Group set a $15.00 price objective on shares of Covetrus and gave the company a “hold” rating in a research note on Friday, August 16th. Zacks Investment Research downgraded shares of Covetrus from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Cleveland Research started coverage on shares of Covetrus in a research note on Friday, May 10th. They set a “hold” rating for the company. Finally, ValuEngine downgraded shares of Covetrus from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.75.

About Covetrus

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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