Oppenheimer Asset Management Inc. purchased a new stake in shares of Covetrus Inc (NASDAQ:CVET) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,606 shares of the company’s stock, valued at approximately $31,000.
A number of other hedge funds have also made changes to their positions in the business. Comerica Bank acquired a new position in shares of Covetrus during the third quarter worth $717,000. California Public Employees Retirement System acquired a new position in shares of Covetrus during the third quarter worth $2,147,000. Commonwealth Equity Services LLC acquired a new position in shares of Covetrus during the third quarter worth $247,000. Retirement Systems of Alabama acquired a new position in shares of Covetrus during the third quarter worth $1,506,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Covetrus during the third quarter worth $53,000. 91.73% of the stock is currently owned by hedge funds and other institutional investors.
In other Covetrus news, insider Erin Powers Brennan bought 1,684 shares of the stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of $14.90 per share, for a total transaction of $25,091.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NASDAQ:CVET opened at $13.48 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.91 and a current ratio of 1.66. The company has a fifty day simple moving average of $10.68 and a 200 day simple moving average of $19.58. Covetrus Inc has a 12-month low of $8.16 and a 12-month high of $43.83.
Covetrus (NASDAQ:CVET) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $963.69 million. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts expect that Covetrus Inc will post 0.42 earnings per share for the current fiscal year.
Covetrus Company Profile
Covetrus, Inc engages in developing technologies and services for animal health industry. It also provides products, software, and services to help drive improved patient health, strong client relationships, and successful financial outcomes for veterinary professionals. The company was founded on April 13, 2018 and is headquartered in Melville, NY.
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