Oppenheimer Asset Management Inc. Buys 1,209 Shares of PetIQ, Inc. (NASDAQ:PETQ)

Oppenheimer Asset Management Inc. increased its stake in shares of PetIQ, Inc. (NASDAQ:PETQGet Rating) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,085 shares of the company’s stock after purchasing an additional 1,209 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in PetIQ were worth $186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. increased its stake in shares of PetIQ by 1.2% in the 1st quarter. BlackRock Inc. now owns 2,510,747 shares of the company’s stock valued at $61,262,000 after buying an additional 29,457 shares during the period. Boston Partners increased its position in PetIQ by 1.9% in the first quarter. Boston Partners now owns 1,570,477 shares of the company’s stock worth $38,264,000 after purchasing an additional 29,205 shares during the period. Vanguard Group Inc. raised its holdings in PetIQ by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,428,852 shares of the company’s stock worth $34,864,000 after purchasing an additional 23,788 shares during the last quarter. Minneapolis Portfolio Management Group LLC lifted its position in PetIQ by 5.1% during the 1st quarter. Minneapolis Portfolio Management Group LLC now owns 1,085,776 shares of the company’s stock valued at $26,493,000 after purchasing an additional 52,257 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of PetIQ by 199.5% in the 1st quarter. Capital Research Global Investors now owns 1,051,358 shares of the company’s stock valued at $25,653,000 after purchasing an additional 700,358 shares during the last quarter.

Analyst Upgrades and Downgrades

PETQ has been the subject of a number of recent research reports. Raymond James dropped their price target on shares of PetIQ from $21.00 to $16.00 and set an “outperform” rating for the company in a research note on Tuesday, October 25th. Jefferies Financial Group cut their price target on PetIQ to $21.00 in a research note on Wednesday, September 21st.

PetIQ Stock Down 4.1 %

PetIQ stock opened at $11.17 on Friday. The firm has a market capitalization of $328.51 million, a price-to-earnings ratio of -5.88, a PEG ratio of 1.68 and a beta of 1.63. The company’s 50 day simple moving average is $8.43 and its 200 day simple moving average is $13.08. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.90 and a quick ratio of 1.63. PetIQ, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $25.40.

PetIQ (NASDAQ:PETQGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. PetIQ had a negative net margin of 5.94% and a positive return on equity of 10.46%. The company had revenue of $209.73 million for the quarter, compared to analysts’ expectations of $203.90 million. As a group, sell-side analysts anticipate that PetIQ, Inc. will post 0.87 EPS for the current year.

PetIQ Profile

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PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which include flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as distributes third-party branded medications.

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Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

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