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

CVS Group plc (LON:CVSG) shares 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 trading hands.

Wall Street Analysts Forecast Growth

CVSG has been the subject of several research reports. Berenberg Bank restated a “buy” rating and issued a GBX 2,000 price objective on shares of CVS Group in a research report on Tuesday, May 26th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 1,900 price objective on shares of CVS Group in a research report on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 1,724.

CVS Group Stock Up 0.6%

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

CVS Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 26th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other CVS Group news, insider Scott Morrison bought 987 shares of CVS Group stock in a transaction dated Wednesday, May 27th. The shares were bought at an average price of GBX 1,270 per share, with a total value of £12,534.90. Company insiders own 1.43% of the company’s stock.

CVS Group Company Profile

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.