GW&K Investment Management LLC Has $31.23 Million Position in Covetrus, Inc. (NASDAQ:CVET)

GW&K Investment Management LLC increased its position in Covetrus, Inc. (NASDAQ:CVETGet Rating) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,563,907 shares of the company’s stock after buying an additional 48,224 shares during the quarter. GW&K Investment Management LLC owned 1.14% of Covetrus worth $31,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd acquired a new position in shares of Covetrus in the fourth quarter valued at approximately $47,000. Spire Wealth Management increased its position in Covetrus by 208.4% during the 4th quarter. Spire Wealth Management now owns 2,794 shares of the company’s stock valued at $56,000 after purchasing an additional 1,888 shares during the period. People s United Financial Inc. acquired a new stake in Covetrus during the 3rd quarter valued at approximately $183,000. Point72 Hong Kong Ltd increased its position in Covetrus by 122.1% during the 3rd quarter. Point72 Hong Kong Ltd now owns 10,165 shares of the company’s stock valued at $184,000 after purchasing an additional 5,588 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in Covetrus during the 3rd quarter valued at approximately $187,000. 93.99% of the stock is owned by institutional investors.

Shares of CVET stock traded up $1.69 during trading hours on Friday, hitting $19.71. 7,284,600 shares of the company were exchanged, compared to its average volume of 1,112,654. The firm has a market cap of $2.75 billion, a P/E ratio of -65.70 and a beta of 1.98. Covetrus, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $29.01. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.03 and a current ratio of 1.86. The company has a 50 day simple moving average of $15.97 and a two-hundred day simple moving average of $17.28.

Covetrus (NASDAQ:CVETGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. Covetrus had a positive return on equity of 1.92% and a negative net margin of 0.87%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business earned $0.16 EPS. Covetrus’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that Covetrus, Inc. will post 0.83 EPS for the current fiscal year.

A number of analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Covetrus from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday. Zacks Investment Research raised shares of Covetrus from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. Finally, Barclays reduced their price objective on shares of Covetrus from $38.00 to $26.00 in a research report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Covetrus presently has an average rating of “Hold” and a consensus price target of $23.86.

About Covetrus (Get Rating)

Covetrus, Inc, together with its subsidiaries, operates as an animal-health technology and services company. It engages in the sale of animal-health consumable products, including proprietary and Covetrus branded products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, parasiticides, and vitamins and supplements to wholesale and retail customers.

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Institutional Ownership by Quarter for Covetrus (NASDAQ:CVET)

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