Heska Corp. (NASDAQ:HSKA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released 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. “
HSKA has been the topic of a number of other reports. B. Riley lowered Heska Corp. from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $52.50 to $53.00 in a report on Wednesday, September 21st. Gabelli lowered Heska Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Sidoti assumed coverage on Heska Corp. in a research report on Friday, July 1st. They issued a “buy” rating and a $49.00 target price for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $53.00.
Shares of Heska Corp. (NASDAQ:HSKA) traded up 0.829% during mid-day trading on Wednesday, hitting $55.315. The company had a trading volume of 6,779 shares. The company has a market capitalization of $380.29 million, a PE ratio of 56.044 and a beta of 0.41. The company’s 50-day moving average is $53.76 and its 200 day moving average is $41.09. Heska Corp. has a one year low of $26.26 and a one year high of $57.41.
Heska Corp. (NASDAQ:HSKA) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.17. The business had revenue of $30 million for the quarter, compared to analyst estimates of $28.47 million. Heska Corp. had a return on equity of 8.75% and a net margin of 6.22%. Heska Corp.’s revenue for the quarter was up 25.5% compared to the same quarter last year. On average, equities research analysts forecast that Heska Corp. will post $1.12 EPS for the current fiscal year.
In other news, CFO Jason A. Napolitano sold 5,000 shares of Heska Corp. stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $52.53, for a total value of $262,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin S. Wilson sold 20,000 shares of Heska Corp. stock in a transaction on Monday, August 29th. The shares were sold at an average price of $51.80, for a total value of $1,036,000.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at $5,698,000. The disclosure for this sale can be found here. 15.30% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. bought a new position in shares of Heska Corp. during the second quarter valued at $2,540,000. Cortina Asset Management LLC boosted its position in shares of Heska Corp. by 10.1% in the second quarter. Cortina Asset Management LLC now owns 158,732 shares of the company’s stock valued at $5,900,000 after buying an additional 14,496 shares during the period. Strs Ohio boosted its position in shares of Heska Corp. by 8.6% in the second quarter. Strs Ohio now owns 16,500 shares of the company’s stock valued at $613,000 after buying an additional 1,300 shares during the period. Acadian Asset Management LLC boosted its position in shares of Heska Corp. by 21.5% in the second quarter. Acadian Asset Management LLC now owns 102,804 shares of the company’s stock valued at $3,821,000 after buying an additional 18,211 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Heska Corp. by 17.1% in the first quarter. Geode Capital Management LLC now owns 41,447 shares of the company’s stock valued at $1,181,000 after buying an additional 6,051 shares during the period. Institutional investors own 68.32% of the company’s stock.
About Heska Corp.
Heska Corporation develops, manufactures, markets, sells and supports veterinary products. The Company focuses on the canine and feline companion animal health markets. Its segments include Core Companion Animal Health segment, which includes, primarily for canine and feline use, blood testing instruments and supplies, digital imaging products, software and services, and single use products and services, such as heartworm diagnostic tests, heartworm preventive products, allergy immunotherapy products and allergy testing, and Other Vaccines, Pharmaceuticals and Products segment, which includes private label vaccine and pharmaceutical production, primarily for cattle but also for other animals, including small mammals.
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