CVS Group (LON:CVSG) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

CVS Group plc (LON:CVSG) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,246.80 and traded as low as GBX 1,235. CVS Group shares last traded at GBX 1,257, with a volume of 201,668 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVSG. Berenberg Bank reiterated a “buy” rating and issued a GBX 2,000 price target on shares of CVS Group in a report on Tuesday, May 26th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 1,900 target price on shares of CVS Group in a report on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,724.

CVS Group Stock Performance

The business has a fifty day simple moving average of GBX 1,181.57 and a two-hundred day simple moving average of GBX 1,246.77. The company has a debt-to-equity ratio of 121.52, a current ratio of 1.07 and a quick ratio of 0.90. The company has a market cap of £871.35 million, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

CVS Group announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 26th that allows the company to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at CVS Group

In other CVS Group news, insider Scott Morrison acquired 987 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average price of GBX 1,270 per share, for a total transaction of £12,534.90. Corporate insiders own 1.42% 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.