PetMed Express (NASDAQ:PETS) Given New $3.50 Price Target at Morgan Stanley

PetMed Express (NASDAQ:PETSFree Report) had its price target cut by Morgan Stanley from $6.50 to $3.50 in a research note published on Wednesday, Benzinga reports. They currently have an underweight rating on the stock.

PetMed Express Price Performance

PetMed Express stock opened at $4.13 on Wednesday. The firm has a market capitalization of $87.35 million, a PE ratio of -10.59 and a beta of 0.69. The company’s 50-day moving average is $4.23 and its 200-day moving average is $5.49. PetMed Express has a fifty-two week low of $3.92 and a fifty-two week high of $15.08.

PetMed Express (NASDAQ:PETSGet Free Report) last released its quarterly earnings data on Monday, April 15th. The company reported ($0.10) earnings per share for the quarter. PetMed Express had a negative return on equity of 7.09% and a negative net margin of 2.85%. The firm had revenue of $65.32 million for the quarter. As a group, analysts expect that PetMed Express will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its stake in PetMed Express by 167.5% in the 4th quarter. CWM LLC now owns 3,378 shares of the company’s stock valued at $26,000 after buying an additional 2,115 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in PetMed Express in the 4th quarter valued at about $36,000. Quest Partners LLC acquired a new position in PetMed Express in the 4th quarter valued at about $47,000. Oak Thistle LLC acquired a new position in PetMed Express in the 1st quarter valued at about $50,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in PetMed Express in the 1st quarter valued at about $61,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

About PetMed Express

(Get Free Report)

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.

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