PetMed Express (NASDAQ:PETS – Free Report) had its price objective cut by Morgan Stanley from $10.00 to $7.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an underweight rating on the stock.
Separately, StockNews.com started coverage on PetMed Express in a research note on Thursday, October 5th. They issued a hold rating on the stock.
Read Our Latest Stock Report on PETS
PetMed Express Price Performance
Shares of PETS stock opened at $7.21 on Tuesday. The company’s fifty day simple moving average is $10.26 and its two-hundred day simple moving average is $12.78. PetMed Express has a 1 year low of $5.50 and a 1 year high of $22.64. The stock has a market capitalization of $152.49 million, a price-to-earnings ratio of -24.86 and a beta of 0.70.
PetMed Express (NASDAQ:PETS – Get Free Report) last released its quarterly earnings results on Monday, October 30th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.09). The firm had revenue of $71.00 million during the quarter, compared to the consensus estimate of $77.13 million. PetMed Express had a positive return on equity of 0.93% and a negative net margin of 2.25%. During the same period in the previous year, the company posted $0.13 EPS. Equities research analysts anticipate that PetMed Express will post 0.16 EPS for the current year.
Hedge Funds Weigh In On PetMed Express
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in PetMed Express by 1.4% in the first quarter. BlackRock Inc. now owns 3,337,821 shares of the company’s stock worth $86,115,000 after buying an additional 47,018 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of PetMed Express by 7.2% during the third quarter. Vanguard Group Inc. now owns 1,523,250 shares of the company’s stock valued at $29,734,000 after purchasing an additional 102,369 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of PetMed Express by 5.2% during the second quarter. Renaissance Technologies LLC now owns 1,018,469 shares of the company’s stock valued at $14,045,000 after purchasing an additional 50,200 shares in the last quarter. State Street Corp increased its stake in shares of PetMed Express by 9.7% during the second quarter. State Street Corp now owns 1,001,844 shares of the company’s stock valued at $19,937,000 after purchasing an additional 88,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of PetMed Express by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 775,991 shares of the company’s stock valued at $10,701,000 after purchasing an additional 111,052 shares in the last quarter. 74.99% of the stock is owned by institutional investors.
About PetMed Express
(Get Free Report)
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 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.
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