237,131 Shares in Covetrus Inc (NASDAQ:CVET) Purchased by Rhumbline Advisers

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Rhumbline Advisers bought a new stake in shares of Covetrus Inc (NASDAQ:CVET) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 237,131 shares of the company’s stock, valued at approximately $2,819,000. Rhumbline Advisers owned 0.21% of Covetrus as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVET. Macquarie Group Ltd. bought a new position in Covetrus during the 2nd quarter valued at about $30,000. M&R Capital Management Inc. bought a new position in Covetrus during the 3rd quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Covetrus during the 3rd quarter valued at about $73,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Covetrus during the 3rd quarter valued at about $90,000. Finally, Ridgewood Investments LLC bought a new position in Covetrus during the 3rd quarter valued at about $129,000. Institutional investors and hedge funds own 91.73% of the company’s stock.

In other Covetrus news, insider Erin Powers Brennan purchased 1,684 shares of Covetrus stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average price of $14.90 per share, with a total value of $25,091.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Several equities analysts have issued reports on CVET shares. Stifel Nicolaus lowered their target price on shares of Covetrus from $30.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. ValuEngine cut shares of Covetrus from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Zacks Investment Research upgraded shares of Covetrus from a “sell” rating to a “hold” rating in a research note on Monday. Raymond James lowered their target price on shares of Covetrus from $45.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Finally, Goldman Sachs Group started coverage on shares of Covetrus in a research note on Monday, September 9th. They set a “sell” rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Covetrus has a consensus rating of “Hold” and a consensus target price of $18.00.

Shares of NASDAQ CVET traded up $2.35 during midday trading on Tuesday, hitting $12.40. 77,065 shares of the company’s stock traded hands, compared to its average volume of 3,663,771. Covetrus Inc has a 1 year low of $8.16 and a 1 year high of $43.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.74 and a quick ratio of 0.91. The firm has a fifty day moving average of $10.64 and a 200 day moving average of $19.88.

Covetrus (NASDAQ:CVET) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Equities research analysts anticipate that Covetrus Inc will post 0.42 earnings per share for the current year.

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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Institutional Ownership by Quarter for Covetrus (NASDAQ:CVET)

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