Bailard Inc. Raises Holdings in PetIQ, Inc. (NASDAQ:PETQ)

Bailard Inc. lifted its stake in PetIQ, Inc. (NASDAQ:PETQ) by 53.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,300 shares of the company’s stock after purchasing an additional 5,300 shares during the quarter. Bailard Inc.’s holdings in PetIQ were worth $338,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Raymond James & Associates purchased a new position in PetIQ in the 4th quarter worth $209,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in PetIQ during the 4th quarter worth approximately $177,000. Swiss National Bank acquired a new stake in PetIQ during the 4th quarter valued at approximately $1,080,000. Natixis Advisors L.P. increased its stake in shares of PetIQ by 10.2% in the fourth quarter. Natixis Advisors L.P. now owns 12,038 shares of the company’s stock worth $237,000 after acquiring an additional 1,113 shares during the period. Finally, LSV Asset Management purchased a new position in shares of PetIQ during the fourth quarter worth $849,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Insiders Place Their Bets

In other news, Director Scott Huff sold 12,117 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $22.19, for a total value of $268,876.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PETQ shares. Truist Financial downgraded PetIQ from a “buy” rating to a “hold” rating and boosted their price target for the company from $30.00 to $31.00 in a report on Thursday, August 8th. William Blair lowered shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Benchmark restated a “buy” rating and issued a $30.00 price objective on shares of PetIQ in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.25.

PetIQ Stock Performance

Shares of PetIQ stock opened at $30.50 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.58 and a quick ratio of 1.68. The stock has a market capitalization of $907.44 million, a price-to-earnings ratio of 138.64 and a beta of 1.71. The business has a 50-day moving average of $24.29 and a 200 day moving average of $20.41. PetIQ, Inc. has a 12 month low of $15.09 and a 12 month high of $30.68.

PetIQ (NASDAQ:PETQ) last released its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The firm had revenue of $328.90 million during the quarter, compared to analyst estimates of $330.14 million. During the same period last year, the business posted $0.37 earnings per share. PetIQ’s revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that PetIQ, Inc. will post 1.12 earnings per share for the current year.

PetIQ Company Profile

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.