PetMed Express (NASDAQ:PETS) Announces Quarterly Earnings Results, Misses Expectations By $0.40 EPS

PetMed Express (NASDAQ:PETS) announced its quarterly earnings results on Thursday. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.40), FiscalAI reports. PetMed Express had a negative net margin of 32.00% and a negative return on equity of 76.86%. The business had revenue of $41.02 million for the quarter, compared to the consensus estimate of $71.00 million.

PetMed Express Stock Up 1.0%

PetMed Express stock traded up $0.02 during midday trading on Thursday, hitting $2.03. 199,057 shares of the stock were exchanged, compared to its average volume of 345,090. The stock has a market capitalization of $43.39 million, a price-to-earnings ratio of -0.74 and a beta of 0.76. PetMed Express has a 52-week low of $1.57 and a 52-week high of $4.10. The business’s 50-day moving average price is $1.90 and its 200-day moving average price is $2.31.

Hedge Funds Weigh In On PetMed Express

Institutional investors have recently modified their holdings of the business. Occudo Quantitative Strategies LP bought a new stake in PetMed Express during the second quarter worth $51,000. Oxford Asset Management LLP bought a new position in PetMed Express in the 2nd quarter valued at $55,000. CIBC Private Wealth Group LLC bought a new position in PetMed Express in the 3rd quarter valued at $75,000. Jain Global LLC purchased a new stake in shares of PetMed Express during the 4th quarter valued at $78,000. Finally, Bridgeway Capital Management LLC increased its position in shares of PetMed Express by 96.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 40,800 shares of the company’s stock valued at $135,000 after purchasing an additional 20,000 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PETS shares. Weiss Ratings upgraded shares of PetMed Express from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Zacks Research raised shares of PetMed Express to a “hold” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen raised PetMed Express from a “strong sell” rating to a “hold” rating in a report on Saturday, June 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PetMed Express presently has a consensus rating of “Reduce”.

About PetMed Express

PetMed Express, Inc operates as an online and catalog-based pet pharmacy and retail supplier under the 1-800-PetMeds brand name. The company distributes prescription and non‐prescription medications, nutritional supplements, flea and tick control products, and a range of pet health supplies directly to consumers. Through its licensed veterinary pharmacy in Delray Beach, Florida, PetMed Express fills orders for dogs, cats and other companion animals, offering both branded and generic products alongside its own private‐label formulations.

Founded in 1996 by Marc Puleo, PetMed Express built its business on the premise of convenience and cost savings for pet owners seeking reliable access to veterinary medications.