Redmile Group LLC Sells 27,184 Shares of PetIQ Inc (PETQ)

Redmile Group LLC lowered its holdings in shares of PetIQ Inc (NASDAQ:PETQ) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,159 shares of the company’s stock after selling 27,184 shares during the quarter. Redmile Group LLC owned about 0.84% of PetIQ worth $5,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PETQ. Park West Asset Management LLC bought a new position in shares of PetIQ during the 4th quarter valued at $19,527,000. Fiera Capital Corp bought a new position in shares of PetIQ during the 1st quarter valued at $6,651,000. Cooper Creek Partners Management LLC raised its holdings in shares of PetIQ by 192.3% during the 4th quarter. Cooper Creek Partners Management LLC now owns 366,801 shares of the company’s stock valued at $8,011,000 after purchasing an additional 241,292 shares in the last quarter. BlackRock Inc. raised its holdings in shares of PetIQ by 54.6% during the 4th quarter. BlackRock Inc. now owns 632,556 shares of the company’s stock valued at $13,815,000 after purchasing an additional 223,502 shares in the last quarter. Finally, Harvest Capital Strategies LLC raised its holdings in shares of PetIQ by 60.9% during the 4th quarter. Harvest Capital Strategies LLC now owns 508,595 shares of the company’s stock valued at $11,108,000 after purchasing an additional 192,548 shares in the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.

A number of research analysts have recently weighed in on PETQ shares. Jefferies Financial Group restated a “buy” rating and set a $31.00 price target on shares of PetIQ in a report on Wednesday, April 11th. BidaskClub upgraded shares of PetIQ from a “hold” rating to a “buy” rating in a report on Wednesday, March 21st. Finally, Zacks Investment Research upgraded shares of PetIQ from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, March 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. PetIQ currently has an average rating of “Buy” and a consensus target price of $28.00.

In related news, CFO John Newland sold 5,500 shares of PetIQ stock in a transaction on Monday, March 19th. The shares were sold at an average price of $24.83, for a total value of $136,565.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald Kennedy bought 20,200 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was purchased at an average price of $17.88 per share, for a total transaction of $361,176.00. The disclosure for this purchase can be found here. Insiders sold a total of 65,500 shares of company stock worth $1,657,765 in the last quarter. Insiders own 45.26% of the company’s stock.

Shares of PetIQ opened at $21.90 on Thursday, according to Marketbeat Ratings. The firm has a market capitalization of $518.63 million and a P/E ratio of 56.15. PetIQ Inc has a one year low of $17.03 and a one year high of $28.23. The company has a current ratio of 2.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.69.

PetIQ (NASDAQ:PETQ) last announced its earnings results on Tuesday, May 15th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.05 by $0.04. The firm had revenue of $115.10 million for the quarter, compared to the consensus estimate of $108.54 million. PetIQ had a net margin of 0.17% and a return on equity of 11.39%. The company’s revenue for the quarter was up 71.8% compared to the same quarter last year. research analysts expect that PetIQ Inc will post 0.78 EPS for the current fiscal year.

PetIQ Profile

PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

Want to see what other hedge funds are holding PETQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PetIQ Inc (NASDAQ:PETQ).

Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

Receive News & Ratings for PetIQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetIQ and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply