PetIQ Inc (NASDAQ:PETQ) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its stake in PetIQ Inc (NASDAQ:PETQ) by 152.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,612 shares of the company’s stock after buying an additional 66,735 shares during the period. Raymond James & Associates owned approximately 0.39% of PetIQ worth $3,474,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PETQ. Raymond James Financial Services Advisors Inc. acquired a new stake in PetIQ during the first quarter worth approximately $505,000. Greenwood Capital Associates LLC acquired a new stake in PetIQ during the first quarter worth approximately $283,000. Boston Partners acquired a new stake in PetIQ during the first quarter worth approximately $3,108,000. Gamco Investors INC. ET AL boosted its holdings in shares of PetIQ by 28.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 46,518 shares of the company’s stock valued at $1,461,000 after purchasing an additional 10,324 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of PetIQ by 16.3% in the 1st quarter. Rice Hall James & Associates LLC now owns 68,223 shares of the company’s stock valued at $2,143,000 after purchasing an additional 9,580 shares during the last quarter. 91.87% of the stock is owned by institutional investors.

In other news, Director James Nathan Clarke purchased 31,031 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average price of $28.12 per share, with a total value of $872,591.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Will Santana sold 20,000 shares of PetIQ stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $31.06, for a total transaction of $621,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 120,291 shares of company stock worth $3,514,891 in the last 90 days. Company insiders own 23.79% of the company’s stock.

A number of equities analysts have weighed in on PETQ shares. BidaskClub lowered shares of PetIQ from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 9th. Raymond James decreased their price target on shares of PetIQ from $42.00 to $39.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. ValuEngine lowered shares of PetIQ from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. Zacks Investment Research lowered shares of PetIQ from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, Guggenheim started coverage on shares of PetIQ in a report on Thursday, May 23rd. They issued a “buy” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $40.71.

Shares of NASDAQ:PETQ traded up $1.71 during midday trading on Friday, hitting $32.96. 826,103 shares of the company’s stock traded hands, compared to its average volume of 339,935. The company has a current ratio of 2.89, a quick ratio of 1.51 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $881.28 million, a P/E ratio of 26.37, a PEG ratio of 1.57 and a beta of 1.88. The firm has a fifty day moving average price of $28.93. PetIQ Inc has a twelve month low of $21.29 and a twelve month high of $43.93.

PetIQ (NASDAQ:PETQ) last posted its earnings results on Wednesday, May 8th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.19. The business had revenue of $148.44 million for the quarter, compared to analyst estimates of $139.03 million. PetIQ had a net margin of 0.51% and a return on equity of 9.47%. On average, equities research analysts forecast that PetIQ Inc will post 0.8 EPS for the current fiscal year.

About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats.

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Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

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