PetMed Express (NASDAQ:PETS) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

PetMed Express (NASDAQ:PETS) issued its quarterly earnings data on Tuesday. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01), FiscalAI reports. PetMed Express had a negative return on equity of 70.81% and a negative net margin of 35.51%.The business had revenue of $42.82 million during the quarter, compared to the consensus estimate of $52.00 million.

PetMed Express Trading Down 1.9%

PetMed Express stock traded down $0.04 during midday trading on Tuesday, hitting $2.13. The stock had a trading volume of 167,206 shares, compared to its average volume of 91,789. The firm’s fifty day moving average is $2.27 and its two-hundred day moving average is $2.61. The company has a market capitalization of $45.54 million, a PE ratio of -0.68 and a beta of 0.77. PetMed Express has a 52-week low of $1.57 and a 52-week high of $4.32.

Institutional Investors Weigh In On PetMed Express

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PETS. Occudo Quantitative Strategies LP bought a new position in shares of PetMed Express during the 2nd quarter valued at approximately $51,000. Oxford Asset Management LLP bought a new stake in PetMed Express in the second quarter worth $55,000. CIBC Private Wealth Group LLC bought a new stake in PetMed Express in the third quarter worth $75,000. Jain Global LLC bought a new stake in PetMed Express in the fourth quarter worth $78,000. Finally, Bridgeway Capital Management LLC increased its position in PetMed Express by 96.2% in the second quarter. Bridgeway Capital Management LLC now owns 40,800 shares of the company’s stock worth $135,000 after purchasing an additional 20,000 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Zacks Research upgraded shares of PetMed Express to a “hold” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PetMed Express in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, PetMed Express has a consensus rating of “Reduce”.

PetMed Express Company Profile

PetMed Express, Inc operates as an online and catalog-based pet pharmacy and retail supplier under the 1-800-PetMeds brand name. The company distributes prescription and non‐prescription medications, nutritional supplements, flea and tick control products, and a range of pet health supplies directly to consumers. Through its licensed veterinary pharmacy in Delray Beach, Florida, PetMed Express fills orders for dogs, cats and other companion animals, offering both branded and generic products alongside its own private‐label formulations.

Founded in 1996 by Marc Puleo, PetMed Express built its business on the premise of convenience and cost savings for pet owners seeking reliable access to veterinary medications.