CVS Group (LON:CVSG) Shares Pass Below 200-Day Moving Average – Time to Sell?

CVS Group plc (LON:CVSG) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,247.82 and traded as low as GBX 1,218.83. CVS Group shares last traded at GBX 1,236, with a volume of 20,419,254 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Berenberg Bank reissued a “buy” rating and issued a GBX 2,000 price objective on shares of CVS Group in a report on Tuesday, May 26th. Jefferies Financial Group downgraded CVS Group to a “hold” rating and cut their target price for the company from GBX 1,420 to GBX 1,350 in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 1,710.

CVS Group Stock Performance

The stock has a market cap of £856.24 million, a price-to-earnings ratio of 17.96, a PEG ratio of 1.77 and a beta of 1.06. The company’s 50 day simple moving average is GBX 1,199.39 and its 200 day simple moving average is GBX 1,247.59. The company has a debt-to-equity ratio of 92.34, a quick ratio of 0.90 and a current ratio of 1.07.

CVS Group declared that its board has approved a share buyback plan on Tuesday, May 26th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Scott Morrison bought 987 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average cost of GBX 1,270 per share, for a total transaction of £12,534.90. 1.43% of the stock is currently owned by insiders.

About CVS Group

CVS Group is a leading provider of veterinary services, operating in the UK and Australia, listed on the Main Market of the London Stock Exchange. CVS is focused on providing high-quality clinical services to its clients and their animals, with outstanding and dedicated clinical teams and support colleagues at the core of its strategy.

The Group operates from over 475 veterinary practices across its two territories, including specialist referral hospitals and dedicated out-of-hours sites. Alongside the core Veterinary Practices division, CVS operates Laboratories (providing diagnostic services to CVS and third-parties) and an online retail business (“Animed Direct”).

The Group employs c.8,900 personnel, including c.2,400 veterinary surgeons and c.3,300 nurses.