Petmed Express (PETS) Trading Down 6.5%

Shares of Petmed Express Inc (NASDAQ:PETS) were down 6.5% during trading on Thursday . The company traded as low as $22.74 and last traded at $22.75. Approximately 745,953 shares were traded during mid-day trading, an increase of 36% from the average daily volume of 547,393 shares. The stock had previously closed at $24.32.

A number of analysts have recently commented on PETS shares. ValuEngine lowered shares of Petmed Express from a “sell” rating to a “strong sell” rating in a research note on Monday, October 8th. BidaskClub upgraded shares of Petmed Express from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 22nd. Finally, TheStreet lowered shares of Petmed Express from a “b” rating to a “c+” rating in a research note on Thursday, November 29th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of “Sell” and a consensus target price of $35.00.

The firm has a market capitalization of $480.67 million, a PE ratio of 11.18 and a beta of 0.74.

Petmed Express (NASDAQ:PETS) last posted its quarterly earnings data on Monday, October 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $71.40 million for the quarter, compared to the consensus estimate of $71.93 million. Petmed Express had a net margin of 14.88% and a return on equity of 35.53%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share.

Several institutional investors and hedge funds have recently bought and sold shares of PETS. Public Employees Retirement Association of Colorado boosted its holdings in shares of Petmed Express by 265.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 3,922 shares of the company’s stock worth $129,000 after buying an additional 2,849 shares during the last quarter. OppenheimerFunds Inc. purchased a new position in Petmed Express during the second quarter valued at approximately $205,000. Schroder Investment Management Group purchased a new position in Petmed Express during the second quarter valued at approximately $214,000. Point72 Asset Management L.P. purchased a new position in Petmed Express during the second quarter valued at approximately $229,000. Finally, Palo Capital Inc. purchased a new position in Petmed Express during the third quarter valued at approximately $237,000. 95.04% of the stock is currently owned by institutional investors.

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Petmed Express Company Profile (NASDAQ:PETS)

PetMed Express, Inc and its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. It markets prescription and non-prescription pet medications, and other health products for dogs and cats directly to the consumers. The company offers non-prescription medications and supplies, including flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, such as heartworm preventative, flea and tick preventative, arthritis, thyroid, diabetes, pain, heart/blood pressure, and other specialty medications, as well as generic substitutes.

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