Covetrus Inc (NASDAQ:CVET) has been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $15.20.
A number of equities research analysts have issued reports on CVET shares. Zacks Investment Research upgraded shares of Covetrus from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Thursday, November 28th. Credit Suisse Group lowered their target price on shares of Covetrus from $15.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Raymond James dropped their price target on shares of Covetrus from $45.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. ValuEngine downgraded Covetrus from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Goldman Sachs Group initiated coverage on Covetrus in a report on Monday, September 9th. They set a “sell” rating and a $11.00 price objective for the company.
Several hedge funds and other institutional investors have recently bought and sold shares of CVET. Macquarie Group Ltd. purchased a new position in Covetrus during the second quarter valued at approximately $30,000. Huntington National Bank purchased a new stake in shares of Covetrus in the third quarter worth approximately $25,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Covetrus during the third quarter worth approximately $31,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Covetrus during the third quarter worth approximately $53,000. Finally, M&R Capital Management Inc. purchased a new position in Covetrus during the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Covetrus (NASDAQ:CVET) last posted its earnings results on Tuesday, November 12th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $963.69 million. Covetrus had a positive return on equity of 4.26% and a negative net margin of 23.15%. Covetrus’s revenue was up 10.3% compared to the same quarter last year. On average, research analysts expect that Covetrus will post 0.63 EPS for the current fiscal year.
Covetrus Company Profile
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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