Insider Selling: Covetrus Inc (NASDAQ:CVET) Director Sells 150,845 Shares of Stock

Covetrus Inc (NASDAQ:CVET) Director Betsy S. Atkins sold 150,845 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $27.80, for a total value of $4,193,491.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Covetrus stock traded down $0.22 during trading hours on Friday, reaching $25.01. The stock had a trading volume of 682,200 shares, compared to its average volume of 1,505,916. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.82. Covetrus Inc has a 1 year low of $24.32 and a 1 year high of $43.83.

Covetrus (NASDAQ:CVET) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates 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. During the same quarter last year, the business posted $0.18 EPS. Covetrus’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts expect that Covetrus Inc will post 0.65 EPS for the current year.

A number of research firms recently commented on CVET. Raymond James began coverage on Covetrus in a research note on Wednesday, February 27th. They set an “outperform” rating and a $45.00 price objective on the stock. Svb Leerink reiterated an “outperform” rating on shares of Covetrus in a research report on Wednesday, March 20th. Zacks Investment Research downgraded Covetrus from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Credit Suisse Group initiated coverage on Covetrus in a research report on Thursday, April 4th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Cleveland Research initiated coverage on Covetrus in a research report on Friday, May 10th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $36.67.

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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 company was founded on April 13, 2018 and is headquartered in Melville, NY.

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