Heska Corporation (HSKA) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Heska Corporation (NASDAQ:HSKA) from a buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “Heska Corporation is focused on the discovery, development and marketing of companion animal health products. In addition to manufacturing certain of companion animal products, the company’s primary manufacturing subsidiary, Diamond Animal Health, Inc., also manufactures animal health vaccine products which are marketed and distributed by third parties. In addition to manufacturing veterinary allergy products for marketing and sale by the company, subsidiaries, Center Laboratories, Inc. and CMG-Heska Allergy Products S.A., also manufacture and sell human allergy products. “
Several other equities research analysts have also issued reports on HSKA. BidaskClub lowered shares of Heska Corporation from a buy rating to a hold rating in a research note on Sunday, July 16th. B. Riley reaffirmed a neutral rating and issued a $85.00 price objective on shares of Heska Corporation in a research note on Friday, July 28th. Aegis lifted their price objective on shares of Heska Corporation from $114.50 to $129.50 and gave the company a buy rating in a research note on Tuesday, August 1st. Finally, Benchmark Co. lifted their price objective on shares of Heska Corporation from $106.00 to $120.00 and gave the company a buy rating in a research note on Thursday, August 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $106.83.
Shares of Heska Corporation (NASDAQ HSKA) traded up 5.54% during mid-day trading on Wednesday, reaching $96.44. The company had a trading volume of 263,672 shares. The stock has a market capitalization of $696.88 million, a P/E ratio of 49.15 and a beta of 0.84. Heska Corporation has a 52-week low of $46.51 and a 52-week high of $115.00. The company’s 50-day moving average is $94.79 and its 200 day moving average is $98.34.
Heska Corporation (NASDAQ:HSKA) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. Heska Corporation had a net margin of 10.70% and a return on equity of 15.87%. The business had revenue of $34.30 million during the quarter, compared to analyst estimates of $33.35 million. During the same quarter in the previous year, the business earned $0.35 EPS. Heska Corporation’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts anticipate that Heska Corporation will post $2.04 EPS for the current fiscal year.
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In related news, CFO John Mcmahon sold 2,608 shares of Heska Corporation stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $101.17, for a total value of $263,851.36. Following the transaction, the chief financial officer now owns 193 shares in the company, valued at approximately $19,525.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Wisnewski sold 825 shares of Heska Corporation stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $102.21, for a total transaction of $84,323.25. Following the completion of the transaction, the executive vice president now owns 38,114 shares in the company, valued at approximately $3,895,631.94. The disclosure for this sale can be found here. Company insiders own 14.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. raised its holdings in Heska Corporation by 0.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,943 shares of the medical research company’s stock worth $198,000 after acquiring an additional 5 shares during the period. Alps Advisors Inc. raised its holdings in Heska Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,117 shares of the medical research company’s stock worth $522,000 after acquiring an additional 14 shares during the period. Albion Financial Group UT raised its holdings in Heska Corporation by 1.3% in the 2nd quarter. Albion Financial Group UT now owns 6,421 shares of the medical research company’s stock worth $655,000 after acquiring an additional 80 shares during the period. Louisiana State Employees Retirement System raised its holdings in Heska Corporation by 4.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical research company’s stock worth $265,000 after acquiring an additional 100 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Heska Corporation by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,133 shares of the medical research company’s stock worth $116,000 after acquiring an additional 169 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.
About Heska Corporation
Heska Corporation sells veterinary diagnostic and specialty products. The Company operates through two segments: Core Companion Animal Health (CCA) and Other Vaccines, Pharmaceuticals and Products (OVP). The CCA segment includes, primarily for canine and feline use, blood testing instruments and supplies, digital imaging products, software and services, local and cloud-based data services, allergy testing and immunotherapy, and single use offerings, such as in-clinic diagnostic tests and heartworm preventive products.
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