Heska Corporation (HSKA) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Heska Corporation (NASDAQ:HSKA) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “Heska Corporation is focused on the discovery, development and marketing of companion animal health products. In addition to manufacturing certain of companion animal products, the company’s primary manufacturing subsidiary, Diamond Animal Health, Inc., also manufactures animal health vaccine products which are marketed and distributed by third parties. In addition to manufacturing veterinary allergy products for marketing and sale by the company, subsidiaries, Center Laboratories, Inc. and CMG-Heska Allergy Products S.A., also manufacture and sell human allergy products. “
Several other brokerages have also recently issued reports on HSKA. Aegis increased their target price on Heska Corporation from $114.50 to $129.50 and gave the company a buy rating in a research report on Tuesday, August 1st. BidaskClub cut Heska Corporation from a buy rating to a hold rating in a research report on Sunday, July 16th. B. Riley reaffirmed a neutral rating and set a $85.00 target price on shares of Heska Corporation in a research report on Friday, July 28th. Finally, Benchmark Co. reaffirmed a buy rating and set a $120.00 target price (up previously from $106.00) on shares of Heska Corporation in a research report on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Heska Corporation currently has a consensus rating of Hold and a consensus price target of $106.83.
Heska Corporation (NASDAQ:HSKA) traded down 0.33% on Wednesday, hitting $96.12. The stock had a trading volume of 49,856 shares. The firm has a market capitalization of $694.56 million, a price-to-earnings ratio of 48.99 and a beta of 0.84. Heska Corporation has a 1-year low of $46.51 and a 1-year high of $115.00. The stock’s 50-day moving average is $94.65 and its 200 day moving average is $98.32.
Heska Corporation (NASDAQ:HSKA) last announced its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. Heska Corporation had a return on equity of 15.87% and a net margin of 10.70%. The company had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $33.35 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Heska Corporation’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Heska Corporation will post $2.04 earnings per share for the current fiscal year.
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In other news, EVP Nancy Wisnewski sold 825 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $102.21, for a total transaction of $84,323.25. Following the completion of the sale, the executive vice president now owns 38,114 shares in the company, valued at approximately $3,895,631.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John Mcmahon sold 2,608 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $101.17, for a total value of $263,851.36. Following the sale, the chief financial officer now owns 193 shares of the company’s stock, valued at approximately $19,525.81. The disclosure for this sale can be found here. 14.70% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of HSKA. Victory Capital Management Inc. purchased a new stake in shares of Heska Corporation during the 1st quarter valued at $101,000. Royal Bank of Canada lifted its holdings in shares of Heska Corporation by 96.9% during the 2nd quarter. Royal Bank of Canada now owns 1,014 shares of the medical research company’s stock valued at $103,000 after purchasing an additional 499 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Heska Corporation by 1,306.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,167 shares of the medical research company’s stock valued at $123,000 after purchasing an additional 1,084 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Heska Corporation during the 2nd quarter valued at $127,000. Finally, LS Investment Advisors LLC lifted its holdings in shares of Heska Corporation by 411.2% during the 2nd quarter. LS Investment Advisors LLC now owns 1,278 shares of the medical research company’s stock valued at $130,000 after purchasing an additional 1,028 shares during the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.
About Heska Corporation
Heska Corporation sells veterinary diagnostic and specialty products. The Company operates through two segments: Core Companion Animal Health (CCA) and Other Vaccines, Pharmaceuticals and Products (OVP). The CCA segment includes, primarily for canine and feline use, blood testing instruments and supplies, digital imaging products, software and services, local and cloud-based data services, allergy testing and immunotherapy, and single use offerings, such as in-clinic diagnostic tests and heartworm preventive products.
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