Swiss National Bank Acquires 15,100 Shares of Covetrus, Inc. (NASDAQ:CVET)

Swiss National Bank increased its position in Covetrus, Inc. (NASDAQ:CVETGet Rating) by 6.2% during the second quarter, Holdings Channel reports. The firm owned 259,540 shares of the company’s stock after buying an additional 15,100 shares during the quarter. Swiss National Bank’s holdings in Covetrus were worth $5,385,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. grew its position in shares of Covetrus by 385.7% during the 2nd quarter. Assetmark Inc. now owns 1,700 shares of the company’s stock worth $35,000 after purchasing an additional 1,350 shares in the last quarter. M&T Bank Corp bought a new position in Covetrus in the 2nd quarter valued at approximately $39,000. Point72 Hong Kong Ltd bought a new position in Covetrus in the 1st quarter valued at approximately $43,000. US Bancorp DE lifted its stake in Covetrus by 77.6% in the 2nd quarter. US Bancorp DE now owns 4,708 shares of the company’s stock valued at $98,000 after purchasing an additional 2,057 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in Covetrus in the 1st quarter valued at approximately $170,000. 92.20% of the stock is owned by institutional investors.

Covetrus Stock Performance

CVET opened at $20.99 on Friday. Covetrus, Inc. has a twelve month low of $13.39 and a twelve month high of $21.20. The company has a quick ratio of 1.08, a current ratio of 1.88 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $20.95 and a 200-day moving average of $20.50. The stock has a market cap of $2.94 billion, a PE ratio of -209.90 and a beta of 1.51.

Analyst Upgrades and Downgrades

Separately, TheStreet raised shares of Covetrus from a “d+” rating to a “c-” rating in a research note on Wednesday, September 28th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.00.

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.

Further Reading

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Institutional Ownership by Quarter for Covetrus (NASDAQ:CVET)

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