Zacks Investment Research Lowers Heska (HSKA) to Sell
Zacks Investment Research downgraded shares of Heska (NASDAQ:HSKA) from a hold rating to a sell rating in a research note released on Wednesday morning.
According to Zacks, “Heska Corporation sells advanced veterinary diagnostic and specialty products. Heska’s state-of-the-art offerings include blood testing instruments and supplies, digital imaging products, software and services, data services, allergy testing and immunotherapy, and single-use offerings such as in-clinic diagnostic tests and heartworm preventive products. The Company’s core focus is on the canine and feline markets where it strives to provide high value products and unparalleled support to veterinarians. “
A number of other research analysts also recently issued reports on HSKA. Canaccord Genuity started coverage on Heska in a report on Thursday, October 5th. They issued a buy rating and a $115.00 price target on the stock. B. Riley reiterated a hold rating and issued a $96.50 price target on shares of Heska in a report on Friday, October 27th. Raymond James Financial reiterated a buy rating on shares of Heska in a report on Monday, December 4th. BidaskClub downgraded Heska from a hold rating to a sell rating in a report on Saturday, December 9th. Finally, Aegis reiterated a buy rating on shares of Heska in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Heska currently has a consensus rating of Hold and a consensus price target of $113.30.
Heska (HSKA) opened at $76.72 on Wednesday. Heska has a fifty-two week low of $72.44 and a fifty-two week high of $115.00. The stock has a market capitalization of $563.28, a price-to-earnings ratio of 40.71, a PEG ratio of 2.05 and a beta of 0.74.
Heska (NASDAQ:HSKA) last announced its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. Heska had a return on equity of 15.35% and a net margin of 10.67%. The business had revenue of $31.40 million for the quarter, compared to the consensus estimate of $36.10 million. During the same period last year, the business posted $0.45 EPS. The business’s revenue was down 6.0% compared to the same quarter last year. analysts expect that Heska will post 2.03 EPS for the current year.
In related news, insider Michael J. Mcginley sold 7,826 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $87.14, for a total transaction of $681,957.64. Following the transaction, the insider now directly owns 106,771 shares in the company, valued at approximately $9,304,024.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 14.70% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Atlantic Trust Group LLC purchased a new position in Heska during the 3rd quarter worth $16,059,000. Neuberger Berman Group LLC grew its stake in Heska by 34.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 603,469 shares of the medical research company’s stock worth $53,160,000 after buying an additional 153,895 shares during the last quarter. California Public Employees Retirement System grew its stake in Heska by 16.5% during the 3rd quarter. California Public Employees Retirement System now owns 14,533 shares of the medical research company’s stock worth $1,280,000 after buying an additional 2,053 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Heska by 46.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,438 shares of the medical research company’s stock worth $215,000 after buying an additional 776 shares during the last quarter. Finally, OxFORD Asset Management LLP grew its stake in Heska by 65.1% during the 3rd quarter. OxFORD Asset Management LLP now owns 43,973 shares of the medical research company’s stock worth $3,878,000 after buying an additional 17,333 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.
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Heska Company Profile
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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