Covetrus (NASDAQ:CVET) Lowered to “Hold” at ValuEngine

Covetrus (NASDAQ:CVET) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, ValuEngine reports.

Several other analysts have also recently issued reports on the company. Zacks Investment Research cut Covetrus from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Guggenheim initiated coverage on Covetrus in a report on Thursday, May 23rd. They set a “neutral” rating on the stock. Cleveland Research initiated coverage on Covetrus in a report on Friday, May 10th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus initiated coverage on Covetrus in a report on Wednesday, May 22nd. They set a “hold” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.75.

Shares of CVET traded down $9.30 during mid-day trading on Tuesday, hitting $13.89. 17,466,064 shares of the stock were exchanged, compared to its average volume of 1,555,402. Covetrus has a 52-week low of $12.40 and a 52-week high of $43.83. The stock has a 50-day simple moving average of $23.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.82 and a quick ratio of 0.93.



In other Covetrus news, Director Betsy S. Atkins sold 150,845 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $27.80, for a total value of $4,193,491.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy Ludlow sold 81,498 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $28.01, for a total value of $2,282,758.98. The disclosure for this sale can be found here. Insiders have sold a total of 233,028 shares of company stock worth $6,495,656 in the last 90 days.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Covetrus (NASDAQ:CVET)

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