Bank of New York Mellon Corp Increases Stake in Heska Corp. (HSKA)
Bank of New York Mellon Corp boosted its position in Heska Corp. (NASDAQ:HSKA) by 229.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 79,633 shares of the company’s stock after buying an additional 55,486 shares during the period. Bank of New York Mellon Corp owned approximately 1.19% of Heska Corp. worth $2,961,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in shares of Heska Corp. during the second quarter valued at about $128,000. Landscape Capital Management L.L.C. bought a new stake in shares of Heska Corp. during the first quarter valued at about $251,000. Monarch Partners Asset Management LLC bought a new stake in shares of Heska Corp. during the second quarter valued at about $255,000. Adams Diversified Equity Fund Inc. bought a new stake in shares of Heska Corp. during the second quarter valued at about $279,000. Finally, Strs Ohio boosted its stake in Heska Corp. by 8.6% in the second quarter. Strs Ohio now owns 16,500 shares of the company’s stock worth $613,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.
Shares of Heska Corp. (NASDAQ:HSKA) traded down 0.20% during trading on Friday, hitting $54.43. The company’s stock had a trading volume of 76,194 shares. The company has a market cap of $374.21 million, a PE ratio of 55.15 and a beta of 0.48. The firm’s 50 day moving average price is $53.42 and its 200-day moving average price is $40.39. Heska Corp. has a 52 week low of $26.26 and a 52 week high of $57.41.
Heska Corp. (NASDAQ:HSKA) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.17. Heska Corp. had a net margin of 6.22% and a return on equity of 8.75%. The company had revenue of $30 million for the quarter, compared to analyst estimates of $28.47 million. The business’s revenue for the quarter was up 25.5% on a year-over-year basis. On average, analysts predict that Heska Corp. will post $1.12 earnings per share for the current year.
A number of research firms have weighed in on HSKA. B. Riley cut Heska Corp. to a “neutral” rating and set a $53.00 price target on the stock. in a research note on Monday, September 26th. Zacks Investment Research upgraded Heska Corp. from a “hold” rating to a “strong-buy” rating and set a $57.00 price target on the stock in a research note on Friday, August 5th. Gabelli cut Heska Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Sidoti began coverage on Heska Corp. in a research note on Friday, July 1st. They issued a “buy” rating and a $49.00 price target on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.00.
In other news, CEO Kevin S. Wilson sold 10,000 shares of the stock in a transaction on Friday, July 8th. The shares were sold at an average price of $42.37, for a total transaction of $423,700.00. Following the transaction, the chief executive officer now owns 150,000 shares in the company, valued at approximately $6,355,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin S. Wilson sold 5,960 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $40.27, for a total transaction of $240,009.20. Following the transaction, the chief executive officer now owns 160,000 shares in the company, valued at approximately $6,443,200. The disclosure for this sale can be found here. Insiders own 15.30% of the company’s stock.
Heska Corp. Company Profile
Heska Corporation develops, manufactures, markets, sells and supports veterinary products. The Company focuses on the canine and feline companion animal health markets. Its segments include Core Companion Animal Health segment, which includes, primarily for canine and feline use, blood testing instruments and supplies, digital imaging products, software and services, and single use products and services, such as heartworm diagnostic tests, heartworm preventive products, allergy immunotherapy products and allergy testing, and Other Vaccines, Pharmaceuticals and Products segment, which includes private label vaccine and pharmaceutical production, primarily for cattle but also for other animals, including small mammals.
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