Covetrus (CVET) Trading 1.9% Higher

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Covetrus Inc (NASDAQ:CVET) shares traded up 1.9% on Wednesday . The stock traded as high as $29.50 and last traded at $29.71. 57,541 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 990,787 shares. The stock had previously closed at $29.16.

Several research analysts have recently weighed in on the company. Raymond James assumed coverage on Covetrus in a research report on Wednesday, February 27th. They issued an “outperform” rating and a $45.00 price objective for the company. Credit Suisse Group started coverage on Covetrus in a research note on Thursday, April 4th. They issued a “neutral” rating and a $35.00 target price for the company. William Blair started coverage on Covetrus in a research note on Tuesday, February 12th. They issued an “outperform” rating for the company. Cleveland Research started coverage on Covetrus in a research note on Friday, May 10th. They issued a “hold” rating for the company. Finally, Svb Leerink restated an “outperform” rating on shares of Covetrus in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $40.00.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.90.

Covetrus (NASDAQ:CVET) last issued its earnings results on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.03). The firm had revenue of $941.00 million during the quarter, compared to the consensus estimate of $993.41 million. Covetrus’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. On average, research analysts expect that Covetrus Inc will post 0.71 EPS for the current fiscal year.

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About Covetrus (NASDAQ:CVET)

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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