Jamieson Wellness (JWEL) Downgraded to “Hold” at Canaccord Genuity

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Jamieson Wellness (TSE:JWEL) was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday. They presently have a C$23.00 target price on the stock, down from their previous target price of C$26.00. Canaccord Genuity’s price target would indicate a potential upside of 22.02% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. TD Securities reduced their target price on Jamieson Wellness from C$31.00 to C$27.00 and set a “buy” rating on the stock in a research report on Friday, November 23rd. Royal Bank of Canada dropped their price objective on Jamieson Wellness from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research note on Wednesday, November 7th. National Bank Financial dropped their price objective on Jamieson Wellness from C$29.00 to C$27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 7th. Finally, BMO Capital Markets cut Jamieson Wellness from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from C$28.00 to C$24.00 in a research note on Wednesday, November 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of C$25.60.

TSE:JWEL traded down C$1.86 on Thursday, reaching C$18.85. The company’s stock had a trading volume of 262,612 shares, compared to its average volume of 76,150. Jamieson Wellness has a 12-month low of C$17.15 and a 12-month high of C$27.88. The company has a quick ratio of 0.81, a current ratio of 1.72 and a debt-to-equity ratio of 74.86. The company has a market capitalization of $789.62 million and a P/E ratio of 36.36.

In other news, insider Robert Chan sold 2,000 shares of Jamieson Wellness stock in a transaction on Friday, December 14th. The stock was sold at an average price of C$21.10, for a total value of C$42,200.00. Also, insider Christopher Snowden acquired 15,623 shares of the company’s stock in a transaction dated Tuesday, November 13th. The stock was purchased at an average cost of C$20.00 per share, with a total value of C$312,460.00. Insiders bought 27,773 shares of company stock valued at $570,593 over the last ninety days.

About Jamieson Wellness

Jamieson Wellness Inc develops, manufactures, distributes, sells, and markets natural health products worldwide. The company operates in two segments, Jamieson Brands and Strategic Partners. The company offers health products for humans, including vitamins, herbals, and mineral nutritional supplements; and over-the-counter remedies under the Jamieson and LVHS brands, as well as sports nutrition products under the Progressive, Precision, and Iron Vegan brands.

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Analyst Recommendations for Jamieson Wellness (TSE:JWEL)

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