Covetrus, Inc. (NASDAQ:CVET – Get Rating) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 3,240,000 shares, a growth of 21.8% from the April 15th total of 2,660,000 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily volume of 756,100 shares, the days-to-cover ratio is currently 4.3 days.
CVET has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Covetrus from $38.00 to $26.00 in a research note on Monday, May 9th. Zacks Investment Research upgraded Covetrus from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Covetrus currently has a consensus rating of “Buy” and a consensus target price of $25.17.
CVET stock opened at $17.27 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.86 and a quick ratio of 1.03. The company’s fifty day moving average price is $15.87 and its 200-day moving average price is $17.32. Covetrus has a one year low of $13.39 and a one year high of $29.01.
Several large investors have recently bought and sold shares of CVET. BNP Paribas Arbitrage SA grew its holdings in Covetrus by 7.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 110,585 shares of the company’s stock valued at $1,857,000 after buying an additional 7,678 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Covetrus by 26.4% during the 1st quarter. Gabelli Funds LLC now owns 106,568 shares of the company’s stock valued at $1,789,000 after acquiring an additional 22,268 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Covetrus by 2.4% in the first quarter. Gamco Investors INC. ET AL now owns 206,486 shares of the company’s stock valued at $3,467,000 after purchasing an additional 4,899 shares in the last quarter. Jane Street Group LLC increased its position in Covetrus by 11.4% in the first quarter. Jane Street Group LLC now owns 18,356 shares of the company’s stock worth $308,000 after purchasing an additional 1,879 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Covetrus in the first quarter worth $43,000. Institutional investors own 93.99% of the company’s stock.
Covetrus Company Profile (Get Rating)
Covetrus, Inc, together with its subsidiaries, operates as an animal-health technology and services company. It engages in the sale of animal-health consumable products, including proprietary and Covetrus branded products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, parasiticides, and vitamins and supplements to wholesale and retail customers.
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