PetMed Express (NASDAQ:PETS – Free Report) had its price target cut by Lake Street Capital from $9.00 to $7.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.
Separately, Morgan Stanley lowered their price objective on PetMed Express from $6.50 to $3.50 and set an underweight rating for the company in a report on Wednesday.
Check Out Our Latest Research Report on PetMed Express
PetMed Express Price Performance
PetMed Express (NASDAQ:PETS – Get Free Report) last announced its earnings results on Monday, April 15th. The company reported ($0.10) earnings per share (EPS) for the quarter. PetMed Express had a negative return on equity of 7.09% and a negative net margin of 2.85%. The business had revenue of $65.32 million for the quarter. On average, research analysts anticipate that PetMed Express will post -0.28 earnings per share for the current year.
Hedge Funds Weigh In On PetMed Express
Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC boosted its position in shares of PetMed Express by 167.5% during the fourth quarter. CWM LLC now owns 3,378 shares of the company’s stock worth $26,000 after buying an additional 2,115 shares during the period. Nisa Investment Advisors LLC acquired a new position in shares of PetMed Express during the fourth quarter worth approximately $36,000. Quest Partners LLC acquired a new position in shares of PetMed Express during the fourth quarter worth approximately $47,000. Vanguard Group Inc. boosted its position in shares of PetMed Express by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,186,485 shares of the company’s stock worth $5,683,000 after buying an additional 9,226 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of PetMed Express during the first quarter worth approximately $50,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.
About PetMed Express
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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