Covetrus, Inc. (NASDAQ:CVET) Insider Michael Ellis Sells 21,196 Shares

Covetrus, Inc. (NASDAQ:CVET) insider Michael Ellis sold 21,196 shares of the company’s stock in a transaction on Friday, July 16th. The stock was sold at an average price of $24.59, for a total transaction of $521,209.64. Following the transaction, the insider now owns 1,479 shares of the company’s stock, valued at approximately $36,368.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Covetrus stock opened at $25.24 on Thursday. The stock has a market capitalization of $3.45 billion, a P/E ratio of -315.46, a price-to-earnings-growth ratio of 1.50 and a beta of 2.05. The company’s fifty day simple moving average is $26.61. The company has a current ratio of 2.09, a quick ratio of 1.27 and a debt-to-equity ratio of 0.69. Covetrus, Inc. has a 52-week low of $18.74 and a 52-week high of $40.78.

Covetrus (NASDAQ:CVET) last released its quarterly earnings results on Thursday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.04. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Covetrus had a negative net margin of 0.02% and a positive return on equity of 6.38%. As a group, sell-side analysts anticipate that Covetrus, Inc. will post 0.74 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in CVET. Rockefeller Capital Management L.P. raised its stake in shares of Covetrus by 7,326.7% in the first quarter. Rockefeller Capital Management L.P. now owns 1,114 shares of the company’s stock valued at $33,000 after acquiring an additional 1,099 shares during the period. Peconic Partners LLC purchased a new stake in shares of Covetrus in the fourth quarter valued at $86,000. First Mercantile Trust Co. purchased a new stake in shares of Covetrus in the first quarter valued at $176,000. Russell Investments Group Ltd. purchased a new stake in shares of Covetrus in the first quarter valued at $226,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Covetrus in the first quarter valued at $232,000. 94.72% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. Guggenheim upgraded shares of Covetrus from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, July 12th. Zacks Investment Research upgraded shares of Covetrus from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Monday, June 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $32.33.

About Covetrus

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 firm geographically operates through the segments: North America, Europe and Asia Pacific (APAC) & Emerging Markets.

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Insider Buying and Selling by Quarter for Covetrus (NASDAQ:CVET)

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