Petmed Express (NASDAQ:PETS) Downgraded by BidaskClub to Hold

BidaskClub cut shares of Petmed Express (NASDAQ:PETS) from a buy rating to a hold rating in a research note issued to investors on Wednesday, BidAskClub reports.

Several other research firms have also issued reports on PETS. Sidoti upgraded shares of Petmed Express from a neutral rating to a buy rating and raised their price target for the stock from $37.00 to $41.00 in a research report on Wednesday, August 19th. ValuEngine raised Petmed Express from a strong sell rating to a sell rating in a research report on Monday, August 3rd.

Shares of Petmed Express stock opened at $30.66 on Wednesday. Petmed Express has a 1 year low of $21.20 and a 1 year high of $42.88. The company’s fifty day simple moving average is $30.82 and its 200-day simple moving average is $33.55. The company has a market cap of $621.48 million, a price-to-earnings ratio of 21.74 and a beta of 0.70.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Petmed Express by 30.9% during the second quarter. Vanguard Group Inc. now owns 1,848,698 shares of the company’s stock worth $65,888,000 after acquiring an additional 436,797 shares in the last quarter. Prudential Financial Inc. boosted its stake in Petmed Express by 707.1% during the 2nd quarter. Prudential Financial Inc. now owns 425,819 shares of the company’s stock worth $15,176,000 after purchasing an additional 373,057 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Petmed Express by 449.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 350,478 shares of the company’s stock worth $12,490,000 after buying an additional 286,660 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Petmed Express by 660.7% in the second quarter. ProShare Advisors LLC now owns 240,191 shares of the company’s stock valued at $8,560,000 after buying an additional 208,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Petmed Express by 104.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 351,289 shares of the company’s stock worth $12,520,000 after buying an additional 179,527 shares in the last quarter. Institutional investors and hedge funds own 92.75% of the company’s stock.

Petmed Express Company Profile

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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