CVS Group (LON:CVSG) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of CVS Group plc (LON:CVSG) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,235.10 and traded as high as GBX 1,324. CVS Group shares last traded at GBX 1,292.56, with a volume of 211,113 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVSG. Jefferies Financial Group boosted their price target on CVS Group from GBX 1,350 to GBX 1,400 and gave the company a “hold” rating in a research note on Friday, July 31st. Berenberg Bank reaffirmed a “buy” rating and set a GBX 2,000 target price on shares of CVS Group in a report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 1,700 target price on shares of CVS Group in a research report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, CVS Group has an average rating of “Moderate Buy” and a consensus price target of GBX 1,720.

CVS Group Price Performance

The firm has a 50-day simple moving average of GBX 1,271.27 and a two-hundred day simple moving average of GBX 1,235.64. The company has a market capitalization of £898.53 million, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.77 and a beta of 1.07. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 92.34.

CVS Group announced that its board has approved a stock repurchase program on Tuesday, May 26th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at CVS Group

In related news, insider Robin Alfonso purchased 768 shares of CVS Group stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of GBX 1,294 per share, for a total transaction of £9,937.92. Also, insider David Wilton purchased 1,500 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was bought at an average cost of GBX 1,276 per share, with a total value of £19,140. Over the last ninety days, insiders purchased 3,860 shares of company stock worth $4,956,696. 1.43% of the stock is owned by corporate insiders.

CVS Group Company Profile

CVS Group is a leading provider of veterinary services, operating in the UK and Australia, listed on the Main Market of the London Stock Exchange. CVS is focused on providing high-quality clinical services to its clients and their animals, with outstanding and dedicated clinical teams and support colleagues at the core of its strategy.

The Group operates from over 475 veterinary practices across its two territories, including specialist referral hospitals and dedicated out-of-hours sites. Alongside the core Veterinary Practices division, CVS operates Laboratories (providing diagnostic services to CVS and third-parties) and an online retail business (“Animed Direct”).

The Group employs c.8,900 personnel, including c.2,400 veterinary surgeons and c.3,300 nurses.