Stock Repurchase Plan Authorized by CVS Group (LON:CVSG)

CVS Group (LON:CVSG) announced that its board has initiated a share repurchase program on Tuesday, May 26th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

CVS Group Trading Up 5.8%

CVS Group stock traded up GBX 70 during mid-day trading on Tuesday, hitting GBX 1,269. The company’s stock had a trading volume of 629,769 shares, compared to its average volume of 986,411. The company has a debt-to-equity ratio of 121.52, a current ratio of 1.07 and a quick ratio of 0.90. The stock has a market cap of £890.29 million, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.02. The business has a 50 day moving average price of GBX 1,173.65 and a 200-day moving average price of GBX 1,244.30. CVS Group has a 12 month low of GBX 1,062 and a 12 month high of GBX 1,648.

CVS Group (LON:CVSG) last posted its quarterly earnings results on Thursday, February 26th. The company reported GBX 40.20 earnings per share for the quarter. CVS Group had a net margin of 2.31% and a return on equity of 5.35%. As a group, analysts forecast that CVS Group will post 93.9393939 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 1,900 price objective on shares of CVS Group in a report on Thursday, March 5th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 2,000 price objective on shares of CVS Group in a report on Tuesday. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,724.

CVS Group Company Profile

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.