PetMed Express (NASDAQ:PETS) Announces Quarterly Earnings Results, Misses Estimates By $0.45 EPS

PetMed Express (NASDAQ:PETS) released its quarterly earnings data on Friday. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.45), reports. PetMed Express had a negative net margin of 2.76% and a negative return on equity of 6.76%.

PetMed Express Trading Down 1.4%

Shares of PetMed Express stock traded down $0.05 during trading on Friday, hitting $3.60. 477,312 shares of the stock traded hands, compared to its average volume of 792,454. The firm has a market cap of $76.93 million, a P/E ratio of -12.00 and a beta of 0.75. The stock’s fifty day simple moving average is $2.34 and its 200 day simple moving average is $2.89. PetMed Express has a 52-week low of $1.57 and a 52-week high of $5.58.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PETS shares. Weiss Ratings reiterated a “sell (d)” rating on shares of PetMed Express in a research report on Wednesday, October 8th. Zacks Research raised PetMed Express from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen cut shares of PetMed Express from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, PetMed Express presently has an average rating of “Sell” and an average target price of $3.20.

Institutional Trading of PetMed Express

Several large investors have recently added to or reduced their stakes in PETS. Man Group plc boosted its position in PetMed Express by 7.1% during the third quarter. Man Group plc now owns 151,039 shares of the company’s stock worth $379,000 after acquiring an additional 9,989 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in PetMed Express by 164.3% during the third quarter. Bridgeway Capital Management LLC now owns 107,816 shares of the company’s stock worth $271,000 after acquiring an additional 67,016 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of PetMed Express by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 481,517 shares of the company’s stock worth $1,209,000 after purchasing an additional 24,624 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in PetMed Express in the 3rd quarter valued at about $75,000. Finally, CIBC Bancorp USA Inc. acquired a new position in PetMed Express in the third quarter valued at about $153,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

About PetMed Express

PetMed Express, Inc operates as an online and catalog-based pet pharmacy and retail supplier under the 1-800-PetMeds brand name. The company distributes prescription and non‐prescription medications, nutritional supplements, flea and tick control products, and a range of pet health supplies directly to consumers. Through its licensed veterinary pharmacy in Delray Beach, Florida, PetMed Express fills orders for dogs, cats and other companion animals, offering both branded and generic products alongside its own private‐label formulations.

Founded in 1996 by Marc Puleo, PetMed Express built its business on the premise of convenience and cost savings for pet owners seeking reliable access to veterinary medications.