Massachusetts Financial Services Co. MA decreased its holdings in shares of PetIQ Inc (NASDAQ:PETQ) by 41.7% during the third quarter, Holdings Channel reports. The institutional investor owned 336,508 shares of the company’s stock after selling 240,460 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PetIQ were worth $13,228,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its position in PetIQ by 29.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 16,400 shares of the company’s stock valued at $437,000 after purchasing an additional 3,700 shares during the period. Northern Trust Corp lifted its position in PetIQ by 9.4% during the 1st quarter. Northern Trust Corp now owns 90,100 shares of the company’s stock valued at $2,397,000 after purchasing an additional 7,766 shares during the period. BlackRock Inc. lifted its position in PetIQ by 25.1% during the 1st quarter. BlackRock Inc. now owns 791,342 shares of the company’s stock valued at $21,051,000 after purchasing an additional 158,786 shares during the period. The Manufacturers Life Insurance Company lifted its position in PetIQ by 64.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 6,838 shares of the company’s stock valued at $182,000 after purchasing an additional 2,669 shares during the period. Finally, Brown Advisory Inc. lifted its position in PetIQ by 47.3% during the 1st quarter. Brown Advisory Inc. now owns 21,898 shares of the company’s stock valued at $581,000 after purchasing an additional 7,035 shares during the period. 74.33% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Will Santana sold 713,167 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $37.15, for a total transaction of $26,494,154.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ecp Helios Partners Iv, L.P. sold 1,838,836 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $37.15, for a total value of $68,312,757.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,064,477 shares of company stock valued at $113,844,980. 45.26% of the stock is currently owned by company insiders.
Shares of PETQ stock opened at $31.94 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.00 and a quick ratio of 0.90. The stock has a market capitalization of $825.68 million, a PE ratio of 81.90, a P/E/G ratio of 1.69 and a beta of 1.58. PetIQ Inc has a one year low of $17.03 and a one year high of $43.93.
PetIQ (NASDAQ:PETQ) last announced its quarterly earnings results on Tuesday, August 14th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $171.10 million during the quarter, compared to analysts’ expectations of $148.48 million. PetIQ had a positive return on equity of 11.40% and a negative net margin of 0.76%. The firm’s revenue for the quarter was up 96.2% on a year-over-year basis. As a group, sell-side analysts expect that PetIQ Inc will post 0.76 earnings per share for the current fiscal year.
A number of research analysts have issued reports on PETQ shares. SunTrust Banks upped their target price on shares of PetIQ to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. ValuEngine raised PetIQ from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. CL King initiated coverage on PetIQ in a research note on Friday, September 28th. They issued a “buy” rating and a $49.00 price target for the company. Raymond James reaffirmed a “buy” rating and issued a $45.00 price target (up from $33.00) on shares of PetIQ in a research note on Wednesday, September 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of PetIQ in a research note on Friday, August 24th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. PetIQ currently has an average rating of “Buy” and an average price target of $40.67.
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PetIQ, Inc operates as a pet health and wellness company. It provides veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats. The company offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.
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