374 institutions hold shares in Covetrus Inc. (CVET), with 1.3M shares held by insiders accounting for 0.96% while institutional investors hold 99.52% of the company’s shares. The shares outstanding are 133.00M, and float is at 92.45M with Short Float at 5.75%. Institutions hold 98.57% of the Float.
The top institutional shareholder in the company is Clayton, Dubilier & Rice, LLC with over 33.68 million shares valued at $967.87 million. The investor’s holdings represent 24.71% of the CVET Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 15.92 million shares valued at $457.57 million to account for 11.68% of the shares outstanding. The other top investors are Morgan Stanley which holds 11.0 million shares representing 8.07% and valued at over $316.1 million, while Vanguard Group, Inc. (The) holds 7.39% of the shares totaling 10.07 million with a market value of $289.54 million.
Covetrus Inc. (NASDAQ: CVET) is -3.79% lower on its value in year-to-date trading and has touched a low of $10.29 and a high of $40.78 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CVET stock was last observed hovering at around $28.80 in the last trading session, with the day’s loss setting it -1.15% off its average median price target of $38.00 for the next 12 months. It is also 42.4% off the consensus price target high of $48.00 offered by 8 analysts, but current levels are -38.25% lower than the price target low of $20.00 for the same period.
Currently trading at $27.65, the stock is -5.54% and -12.54% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.95 million and changing -3.99% at the moment leaves the stock -0.97% off its SMA200. CVET registered 164.34% gain for a year compared to 6-month gain of 7.13%. The firm has a 50-day simple moving average (SMA 50) of $30.21 and a 200-day simple moving average (SMA200) of $30.55.
The stock witnessed a -7.25% loss in the last 1 month and extending the period to 3 months gives it a -21.25%, and is -5.21% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.78% over the week and 4.52% over the month.
Covetrus Inc. (CVET) has around 5275 employees, a market worth around $3.66B and $4.34B in sales. Fwd P/E is 25.99. Profit margin for the company is -0.40%. Distance from 52-week low is 168.71% and -32.19% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.40%).
Covetrus Inc. (CVET) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Covetrus Inc. (CVET) is a “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.30, where 2 rate it as a Hold and 1 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Covetrus Inc. is expected to release its quarterly report on 08/17/2021 and quarterly earnings per share for the current quarter are estimated at $0.17 with sales reaching $1.08B over the same period.The EPS is expected to grow by 98.20% this year, but quarterly earnings will post 4.50% year-over-year. Quarterly sales are estimated to grow 1.80% in year-over-year returns.
Covetrus Inc. (CVET) Insider Activity
A total of 67 insider transactions have happened at Covetrus Inc. (CVET) in the last six months, with sales accounting for 50 and purchases happening 17 times. The most recent transaction is an insider sale by Wolin Benjamin, the company’s President and CEO. SEC filings show that Wolin Benjamin sold 2,778 shares of the company’s common stock on Apr 23 at a price of $29.59 per share for a total of $82214.0. Following the sale, the insider now owns 65374.0 shares.
Covetrus Inc. disclosed in a document filed with the SEC on Apr 22 that Wolin Benjamin (President and CEO) sold a total of 2,778 shares of the company’s common stock. The trade occurred on Apr 22 and was made at $29.27 per share for $81315.0. Following the transaction, the insider now directly holds 68152.0 shares of the CVET stock.
Still, SEC filings show that on Apr 07, FINER DUSTIN (Chief Administrative Officer) disposed off 1,500 shares at an average price of $29.30 for $43950.0. The insider now directly holds 14,971 shares of Covetrus Inc. (CVET).