Morgan Stanley Issues Pessimistic Forecast for PetMed Express (NASDAQ:PETS) Stock Price

PetMed Express (NASDAQ:PETS) had its target price dropped by analysts at Morgan Stanley from $3.50 to $3.20 in a report issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 3.56% from the stock’s previous close.

Separately, StockNews.com upgraded shares of PetMed Express from a “hold” rating to a “buy” rating in a research report on Tuesday.

PetMed Express Stock Up 1.6 %

NASDAQ PETS opened at $3.09 on Thursday. The firm has a market cap of $63.83 million, a P/E ratio of 309.31 and a beta of 0.99. PetMed Express has a 52-week low of $2.90 and a 52-week high of $6.85. The business’s 50-day moving average price is $3.91 and its 200 day moving average price is $4.48.

PetMed Express (NASDAQ:PETS) last announced its earnings results on Monday, February 10th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). PetMed Express had a net margin of 0.14% and a return on equity of 0.37%. As a group, analysts anticipate that PetMed Express will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On PetMed Express

Large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of PetMed Express by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 224,788 shares of the company’s stock valued at $1,084,000 after buying an additional 3,558 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of PetMed Express by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 216,812 shares of the company’s stock worth $1,045,000 after purchasing an additional 4,410 shares in the last quarter. American Century Companies Inc. boosted its position in shares of PetMed Express by 15.3% during the 4th quarter. American Century Companies Inc. now owns 33,662 shares of the company’s stock worth $162,000 after purchasing an additional 4,459 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of PetMed Express by 41.4% in the 4th quarter. Squarepoint Ops LLC now owns 17,686 shares of the company’s stock valued at $85,000 after purchasing an additional 5,180 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of PetMed Express by 13.2% in the 4th quarter. Northern Trust Corp now owns 51,116 shares of the company’s stock valued at $246,000 after purchasing an additional 5,953 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

About PetMed Express

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.