Covetrus Inc (NASDAQ:CVET) saw unusually large options trading on Monday. Stock investors bought 2,532 call options on the stock. This is an increase of approximately 1,555% compared to the typical volume of 153 call options.

CVET has been the subject of several research analyst reports. ValuEngine lowered Covetrus from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Zacks Investment Research raised Covetrus from a “sell” rating to a “hold” rating in a report on Monday. Stifel Nicolaus cut their price target on Covetrus from $30.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Credit Suisse Group cut their price target on Covetrus from $15.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Finally, Raymond James cut their price target on Covetrus from $45.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.00.

In other news, insider Erin Powers Brennan acquired 1,684 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $14.90 per share, with a total value of $25,091.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Large investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. bought a new stake in Covetrus during the second quarter valued at about $30,000. Huntington National Bank purchased a new position in shares of Covetrus in the third quarter valued at about $25,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Covetrus in the third quarter valued at about $31,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Covetrus in the third quarter valued at about $53,000. Finally, M&R Capital Management Inc. purchased a new position in shares of Covetrus in the third quarter valued at about $59,000. 91.73% of the stock is owned by institutional investors and hedge funds.

NASDAQ:CVET opened at $12.26 on Wednesday. The stock has a 50-day simple moving average of $10.64 and a two-hundred day simple moving average of $19.77. Covetrus has a 52-week low of $8.16 and a 52-week high of $43.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.74 and a quick ratio of 0.91.

Covetrus (NASDAQ:CVET) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.05 billion. As a group, equities analysts predict that Covetrus will post 0.42 earnings per share for the current year.

Covetrus Company Profile

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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