CVS Group (LON:CVSG) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

CVS Group plc (LON:CVSG) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,247.82 and traded as low as GBX 1,218.83. CVS Group shares last traded at GBX 1,236, with a volume of 20,419,254 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,000 price objective on shares of CVS Group in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,724.

CVS Group Stock Performance

The stock has a market cap of £856.00 million, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.77 and a beta of 1.06. The company’s 50-day simple moving average is GBX 1,195.82 and its 200-day simple moving average is GBX 1,247.82. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 92.34.

CVS Group announced that its board has authorized a stock repurchase program on Tuesday, May 26th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Scott Morrison bought 987 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of GBX 1,270 per share, for a total transaction of £12,534.90. 1.43% of the stock is owned by insiders.

About CVS Group

CVS Group is a leading provider of veterinary services, operating in the UK and Australia, listed on the Main Market of the London Stock Exchange. CVS is focused on providing high-quality clinical services to its clients and their animals, with outstanding and dedicated clinical teams and support colleagues at the core of its strategy.

The Group operates from over 475 veterinary practices across its two territories, including specialist referral hospitals and dedicated out-of-hours sites. Alongside the core Veterinary Practices division, CVS operates Laboratories (providing diagnostic services to CVS and third-parties) and an online retail business (“Animed Direct”).

The Group employs c.8,900 personnel, including c.2,400 veterinary surgeons and c.3,300 nurses.