Keybank National Association OH bought a new position in Covetrus Inc (NASDAQ:CVET) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,380 shares of the company’s stock, valued at approximately $123,000.
Several other hedge funds have also recently modified their holdings of the company. Huntington National Bank bought a new stake in shares of Covetrus in the third quarter worth about $25,000. Alpine Woods Capital Investors LLC bought a new stake in shares of Covetrus in the third quarter worth about $269,000. Gabelli Funds LLC bought a new stake in shares of Covetrus in the third quarter worth about $5,116,000. Gamco Investors INC. ET AL bought a new stake in shares of Covetrus in the third quarter worth about $2,338,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Covetrus in the third quarter worth about $354,000. 91.73% of the stock is currently owned by hedge funds and other institutional investors.
CVET has been the topic of several research reports. Zacks Investment Research raised Covetrus from a “sell” rating to a “hold” rating and set a $15.00 target price on the stock in a report on Monday, November 11th. Raymond James reduced their target price on Covetrus from $21.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday. Credit Suisse Group reduced their target price on Covetrus from $15.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Goldman Sachs Group initiated coverage on Covetrus in a report on Monday, September 9th. They issued a “sell” rating and a $11.00 target price on the stock. Finally, ValuEngine cut Covetrus from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Covetrus has a consensus rating of “Hold” and a consensus price target of $14.20.
CVET opened at $14.93 on Friday. Covetrus Inc has a 12 month low of $8.16 and a 12 month high of $43.83. The company has a current ratio of 1.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average of $10.72 and a 200 day moving average of $19.49.
Covetrus (NASDAQ:CVET) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $963.69 million. Covetrus had a negative net margin of 23.15% and a positive return on equity of 4.26%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts expect that Covetrus Inc will post 0.63 earnings per share for the current 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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