Covetrus, Inc., together with its subsidiaries, operates as an animal-health technology and services company. It engages in the sale of animal-health consumable products, including proprietary and Covetrus branded products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, parasiticides, and vitamins and supplements to wholesale and retail customers. The company also offers value-added solutions that include, inventory management and e-commerce, as well as continuing education services for practitioners. In addition, it provides practice management software systems for veterinary practitioners and animal-health clinics, client communication services, reminders, data backup services, and hardware sales and support services. Further, the company engages in the distribution of finished goods pharmacy and specialty pharmaceutical compounding products, as well as shipping, manufacturer incentives, service fees, and data integration and support services. It serves animal-health and veterinary practices, and clinics in the companion-animal and equine markets primarily in North America, Europe, and the Asia Pacific. The company was formerly known as HS Spinco, Inc. Covetrus, Inc. was incorporated in 2018 and is headquartered in Portland, Maine.
IPO Year:
Exchange: NASDAQ
Website: covetrus.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/13/2022 | $22.00 | Buy → Hold | Stifel |
| 5/23/2022 | Outperform → Mkt Perform | Raymond James | |
| 11/18/2021 | $19.00 | Equal-Weight | Morgan Stanley |
| 11/5/2021 | $37.00 → $27.00 | Outperform | Raymond James |
| 8/9/2021 | $46.00 → $38.00 | Overweight | Barclays |
| 8/6/2021 | $38.00 → $37.00 | Outperform | Raymond James |
| 8/5/2021 | $29.00 | Neutral | Credit Suisse |
| 7/12/2021 | $30.00 | Neutral → Buy | Guggenheim |
Second quarter 2022 net sales of $1.22 billion, an increase of 2% year-over-year; GAAP net loss attributable to Covetrus of $(4) million Non-GAAP organic net sales growth of 5% year-over-year Non-GAAP adjusted EBITDA was flat year-over-year at $66 million, including a $2 million year-over-year headwind from the strengthening of the U.S. Dollar First half 2022 net sales of $2.37 billion, an increase of 3% year-over-year; GAAP net loss attributable to Covetrus of $(6) million Non-GAAP organic net sales growth of 6% year-over-year Non-GAAP adjusted EBITDA increased 5% year-over-year to $129 million, including a $4 million year-over-year headwind from the strengthening of the U.S.
Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, announced today that it will release first quarter 2022 results after the market closes on Thursday, May 5, 2022. Following the release, the Company will hold a conference call at 4:30 PM ET, during which Ben Wolin, president and chief executive officer, and Matthew Foulston, executive vice president and chief financial officer, will review the results. To access the live webcast of the conference call and the corresponding slide presentation, individuals can register at our Investor Relations site: https://ir.covetrus.com/investors/events-and-presentations. An archived edition of the conference call will be
Fourth quarter 2021 net sales of $1.12 billion, unchanged year-over-year; GAAP net loss attributable to Covetrus of $(3) million Non-GAAP organic net sales growth of 2% year-over-year Non-GAAP adjusted EBITDA increased 13% year-over-year to $63 million Full-year 2021 net sales of $4.58 billion, an increase of 5% year-over-year; GAAP net loss attributable to Covetrus of $(54) million Non-GAAP organic net sales growth of 5% year-over-year Non-GAAP adjusted EBITDA increased 8% year-over-year to $244 million 2022 non-GAAP organic net sales growth guidance of 7% to 8% and non-GAAP adjusted EBITDA guidance in the range of $270 million to $280 million Covetrus® (NASDAQ:CVET), a
Covetrus (NASDAQ:CVET), a global leader in animal-health technology and services, announced today that it will release fourth quarter and full-year 2021 results after the market closes on Thursday, February 24, 2022. Following the release, the Company will hold a conference call at 4:30 PM ET, during which Covetrus president and chief executive officer, Benjamin Wolin, and executive vice president and chief financial officer, Matthew Foulston, will review the fourth quarter and full-year 2021 results. To access the live webcast of the conference call, individuals can visit the Investor Relations page of the Covetrus website: https://ir.covetrus.com/investors/events-and-presentations. An ar
Fourth-quarter total net sales of $3.3 billion up 5.2% compared with prior-year Fourth-quarter GAAP diluted EPS from continuing operations of $1.05 compared with prior-year GAAP diluted EPS from continuing operations of $0.99 Fourth-quarter non-GAAP diluted EPS from continuing operations of $1.07 compared with prior-year non-GAAP diluted EPS from continuing operations of $1.00 Introduces full-year 2022 GAAP diluted EPS guidance to be $4.75 to $4.91, reflecting growth of 7% to 10% over 2021 GAAP diluted EPS and growth of 5% to 9% over 2021 non-GAAP diluted EPS Henry Schein, Inc. (NASDAQ:HSIC), the world's largest provider of health care solutions to office-based dental and medical p
Third quarter GAAP net sales of $1.16 billion, an increase of 3% year-over-year; non-GAAP organic net sales increased 3% year-over-year Third quarter GAAP net loss attributable to Covetrus of $(4) million versus GAAP net loss attributable to Covetrus of $(35) million in the prior year period; third quarter non-GAAP adjusted net income of $31 million, an increase of 3% year-over-year Third quarter non-GAAP adjusted EBITDA of $58 million, a decline of 2% year-over-year; non-GAAP adjusted EBITDA margin decreased 20 bp year-over-year to 5.0% Full-year 2021 non-GAAP organic net sales growth guidance of 5% to 6% and non-GAAP adjusted EBITDA guidance range of $245 million to $255 million
Total net sales of $3.2 billion up 11.9% versus prior year GAAP diluted EPS from continuing operations of $1.15 versus prior-year GAAP diluted EPS from continuing operations of $0.99 Non-GAAP diluted EPS from continuing operations of $1.10 versus prior-year non-GAAP diluted EPS from continuing operations of $1.03 Increases 2021 guidance for non-GAAP diluted EPS from continuing operations to a range of $4.27 to $4.35 Introduces preliminary guidance for 2022 non-GAAP diluted EPS from continuing operations reflecting mid to high single-digit growth over 2021 guidance for non-GAAP diluted EPS from continuing operations Henry Schein, Inc. (NASDAQ:HSIC), the world's largest provider of
Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, announced today that it will release third quarter 2021 results after the market closes on Thursday, November 4, 2021. Following the release, the Company will hold a conference call at 4:30 PM ET, during which Ben Wolin, president and chief executive officer, and Matthew Foulston, executive vice president and chief financial officer, will review the results. To access the live webcast of the conference call and the corresponding slide presentation, individuals can register at our Investor Relations site: https://ir.covetrus.com/investors/events-and-presentations. An archived edition of the conference call wi
Second quarter GAAP net sales of $1.19 billion, an increase of 16% year-over-year; non-GAAP organic net sales increased 12% year-over-year Second quarter GAAP net loss attributable to Covetrus of $31 million versus GAAP net income of $54 million in the prior year period; second quarter non-GAAP adjusted net income of $35 million, an increase of 17% year-over-year Second quarter non-GAAP adjusted EBITDA of $66 million, an increase of 5% year-over-year; non-GAAP adjusted EBITDA margin decreased 50 bp year-over-year to 5.6% Full-year 2021 non-GAAP adjusted EBITDA guidance range of $245 million to $255 million remains unchanged Covetrus® (NASDAQ:CVET), a global leader in animal-hea
Total net sales of $3.0 billion up 76.2% versus prior year and up 21.2% versus 2019 GAAP diluted EPS from continuing operations of $1.10 versus prior-year GAAP loss per diluted share from continuing operations of $0.08 Non-GAAP diluted EPS from continuing operations of $1.11 versus prior-year non-GAAP diluted EPS from continuing operations of $0.00 Reflecting strong first-half financial results, raises guidance for 2021 non-GAAP diluted EPS from continuing operations to be at or above $3.85, representing a floor for fiscal 2021 Henry Schein, Inc. (NASDAQ:HSIC), the world's largest provider of health care solutions to office-based dental and medical practitioners, today reported re
Semrush (NYSE:SEMR), a leading online visibility management SaaS platform, is pleased to announce that Veronique Montreuil joins the executive team as Chief Customer and Data Officer. With over 20 years of experience in customer success and customer experience, Veronique brings a wealth of expertise to enhance customer relationships and drive growth. In her most recent role as Head of Technology Sales and Customer Success at Covetrus (NASDAQ:CVET), Veronique led a team of 275 professionals, driving operational efficiency, fostering deep customer relationships, and optimizing customer value through strategic initiatives and process improvements. She held prior roles at companies INAP (NASD
Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, today announced the appointment of Michelle Bonfilio as Chief People Officer, reporting to Ben Wolin, President and Chief Executive Officer at Covetrus. In this role, Bonfilio will oversee the human resources and communications organizations and help shape the culture of the company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220926005710/en/Michelle Bonfilio (Photo: Business Wire) "Michelle has a proven track record of empowering teams to achieve results, driving an inclusive culture and aligning purpose to the work employees do each day," sai
Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, today announced the appointment of Margie B. Pritchard as General Counsel and Corporate Secretary, reporting to Ben Wolin, President and Chief Executive Officer (CEO) at Covetrus. Prior to being named as General Counsel, Pritchard most recently served as Vice President, Deputy Counsel at Covetrus, where she was responsible for corporate and board governance, public reporting, advising investor relations, employment matters including compensation, and providing general legal counsel to executive management. "Margie has been serving as Interim General Counsel since December 2021, and we are thrilled to have h
Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, today announced that Matthew Foulston, the Company's Executive Vice President and Chief Financial Officer, has informed the company that he will be retiring from the company effective December 31, 2022. Foulston's role at Covetrus caps off a strong career in which he has led technical, strategic and operational finance teams within a broad range of manufacturing, distribution and automotive companies. Since joining Covetrus in 2020, Foulston's leadership and depth of experience served the company well. "Matthew is a strong financial partner to our business, our leadership, our Board, and me. Plus, he's a gre
Long-time Nestlé S.A. executive to manage global growth for Covetrus portfolio Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, today announced the appointment of César França as President, Global Proprietary Brands. França will lead the companywide development and management of Covetrus' global proprietary brand portfolio, including the current Covetrus, Kruuse, Vi, Roadrunner Pharmacy, and Calibra brands. The company will rely on his vision and expertise to develop categories, build strategic partnerships, and identify external growth opportunities. França brings more than 25 years of leadership and experience in brand development and management, marke
Drew Coxhead brings deep accounting experience to support Covetrus' transformation Covetrus®(NASDAQ:CVET), a global leader in animal-health technology and services, announced today that Drew Coxhead will be appointed as vice president, corporate controller and chief accounting officer effective August 16, 2021. In this role, Mr. Coxhead will be responsible for Covetrus' global accounting function, filings with the Securities and Exchange Commission and financial reporting systems. Mr. Coxhead will replace Laura Phillips, who announced in April her intent to retire from Covetrus on August 15, 2021. This press release features multimedia. View the full release here: https://www.businesswire.
New appointments bring expertise to further advance the Company's strategic plan, synchronize the Company's global capabilities and drive operational excellence Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, announced the appointments of Bekki Kidd and András Bolcskei to the roles of head of North America Operations & Global Operational Excellence and president of International, respectively. Both roles are new for the Company and in alignment with Covetrus' strategic plan to drive synchronization and optimization of the business. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210628005245/en/
Fonteyne, former CEO of Boehringer-Ingelheim USA, brings 30+ years of pharmaceutical and animal healthcare experience to the Covetrus board Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, announced the appointment of Paul Fonteyne to its Board of Directors, bringing the number of directors to eleven. Mr. Fonteyne's deep pharmaceutical industry experience in both human and animal health markets will benefit the company as Covetrus continues its transformation and drives its mission to deliver better care and outcomes within the veterinary industry. "Paul's wealth of executive leadership experience and deep expertise in animal health makes him an ideal and
PORTLAND, Maine--(BUSINESS WIRE)--Covetrus (NASDAQ: CVET), a global leader in animal-health technology and services, today announced the appointment of Link Welborn, DVM, DABVP as Covetrus’ chief veterinary officer (CVO) in North America. In his role, Dr. Welborn will champion the role of the veterinarian in providing better care for animals, while counseling Covetrus on ways to deliver better business outcomes for veterinary practices. Dr. Welborn will also work collaboratively with Dr. Rens van Dobbenburgh, Covetrus’ CVO in Europe as the Company leverages its global footprint for the betterment of the veterinary community. “We’ve placed our bet on the veterinarian, which is wh
PORTLAND, Maine--(BUSINESS WIRE)--Covetrus (NASDAQ: CVET), a global leader in animal-health technology and services, today announced the appointment of Deborah Sharkey as chief consumer officer (CCO). In this first-of-its-kind role for the company, Deborah will be responsible for developing innovative solutions that support and strengthen the relationship between veterinarian and pet owner. “Like all modern consumers, pet owners desire convenience coupled with seamless delivery of products and services,” said Ben Wolin, Covetrus president and CEO. “With her dual background in e-commerce and consumer experience, Deborah will be instrumental in our mission to empower veterinarians
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Semrush (NYSE:SEMR), a leading online visibility management SaaS platform, is pleased to announce that Veronique Montreuil joins the executive team as Chief Customer and Data Officer. With over 20 years of experience in customer success and customer experience, Veronique brings a wealth of expertise to enhance customer relationships and drive growth. In her most recent role as Head of Technology Sales and Customer Success at Covetrus (NASDAQ:CVET), Veronique led a team of 275 professionals, driving operational efficiency, fostering deep customer relationships, and optimizing customer value through strategic initiatives and process improvements. She held prior roles at companies INAP (NASD
NEW YORK, Oct. 13, 2022 /PRNewswire/ -- Westlake Corp. (NYSE:WLK) will replace MillerKnoll Inc. (NASD:MLKN) in the S&P MidCap 400, and MillerKnoll will replace Covetrus Inc. (NASD:CVET) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, October 18. Clayton, Dubilier & Rice and TPG Capital acquired Covetrus in a deal that closed today. MillerKnoll is more representative of the small-cap market space. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector October 18, 2022 S&P MidCap 400 Addition Westlake WLK Materials S&P MidCap 400 Deletion Miller
Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, today announced the appointment of Michelle Bonfilio as Chief People Officer, reporting to Ben Wolin, President and Chief Executive Officer at Covetrus. In this role, Bonfilio will oversee the human resources and communications organizations and help shape the culture of the company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220926005710/en/Michelle Bonfilio (Photo: Business Wire) "Michelle has a proven track record of empowering teams to achieve results, driving an inclusive culture and aligning purpose to the work employees do each day," sai
Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, today announced the appointment of Margie B. Pritchard as General Counsel and Corporate Secretary, reporting to Ben Wolin, President and Chief Executive Officer (CEO) at Covetrus. Prior to being named as General Counsel, Pritchard most recently served as Vice President, Deputy Counsel at Covetrus, where she was responsible for corporate and board governance, public reporting, advising investor relations, employment matters including compensation, and providing general legal counsel to executive management. "Margie has been serving as Interim General Counsel since December 2021, and we are thrilled to have h
Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, today announced that Matthew Foulston, the Company's Executive Vice President and Chief Financial Officer, has informed the company that he will be retiring from the company effective December 31, 2022. Foulston's role at Covetrus caps off a strong career in which he has led technical, strategic and operational finance teams within a broad range of manufacturing, distribution and automotive companies. Since joining Covetrus in 2020, Foulston's leadership and depth of experience served the company well. "Matthew is a strong financial partner to our business, our leadership, our Board, and me. Plus, he's a gre
Second quarter 2022 net sales of $1.22 billion, an increase of 2% year-over-year; GAAP net loss attributable to Covetrus of $(4) million Non-GAAP organic net sales growth of 5% year-over-year Non-GAAP adjusted EBITDA was flat year-over-year at $66 million, including a $2 million year-over-year headwind from the strengthening of the U.S. Dollar First half 2022 net sales of $2.37 billion, an increase of 3% year-over-year; GAAP net loss attributable to Covetrus of $(6) million Non-GAAP organic net sales growth of 6% year-over-year Non-GAAP adjusted EBITDA increased 5% year-over-year to $129 million, including a $4 million year-over-year headwind from the strengthening of the U.S.
Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, announced today that it will release second quarter 2022 results before the markets open on Thursday, August 4, 2022. As a result of the Company's previously announced agreement to be acquired by Clayton, Dubilier & Rice and TPG, Covetrus will not conduct a quarterly earnings call to discuss second quarter results with the financial community. About Covetrus Covetrus is a global animal-health technology and services company dedicated to empowering veterinary practice partners to drive improved health and financial outcomes. We are bringing together products, services, and technology into a single platform
Veterinary survey respondents in North America report that Covetrus Pulse is simple to use and saves time amid worker shortages and burnout. Covetrus Pulse™ saves time and is easy to implement, finds a new customer survey by Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services. Among survey respondents reporting time savings, Pulse saved an average of 3 hours per work week. Practice managers who reported gains said Pulse saved them an average of 45 minutes daily. The cumulative effect of this time saved results in a more efficient and profitable practice. Covetrus surveyed 2,500 practices in North America that have used Pulse since January 2022 to learn about
Covetrus Shareholders to Receive $21.00 per Share in Cash Represents a 39% premium to Covetrus' unaffected 30-day VWAP as of May 13, 2022 Covetrus® (NASDAQ:CVET) ("Covetrus" or the "Company"), a global leader in animal-health technology and services, today announced that it has entered into a definitive agreement pursuant to which funds affiliated with Clayton, Dubilier & Rice ("CD&R"), a global private investment firm, and TPG Capital, the private equity platform of global alternative asset management firm TPG ("TPG"), will acquire all outstanding shares of Covetrus common stock not already owned by affiliates of CD&R for $21.00 per share in cash, representing an enterprise value of appr
Covetrus Ascend builds on existing technology portfolio with addition of comprehensive functionality without the constraints of a traditional hardware system. Covetrus® (NASDAQ:CVET), a global leader in animal-health technology and services, today introduced Ascend—a powerful, cloud-based Practice Management software (PMS) built to enable veterinary practices across the United Kingdom, EMEA and Asia Pacific. Ascend improves efficiency, streamlines internal communication and collaboration, and creates a better experience for staff and clients. In today's high-demand environment, the introduction of Ascend addresses a clear and spoken technological need amongst the veterinary community. In
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Stifel downgraded Covetrus from Buy to Hold and set a new price target of $22.00
Raymond James downgraded Covetrus from Outperform to Mkt Perform
Morgan Stanley initiated coverage of Covetrus with a rating of Equal-Weight and set a new price target of $19.00
Raymond James reiterated coverage of Covetrus with a rating of Outperform and set a new price target of $27.00 from $37.00 previously
Barclays reiterated coverage of Covetrus with a rating of Overweight and set a new price target of $38.00 from $46.00 previously
Raymond James reiterated coverage of Covetrus with a rating of Outperform and set a new price target of $37.00 from $38.00 previously
Credit Suisse resumed coverage of Covetrus with a rating of Neutral and set a new price target of $29.00
Guggenheim upgraded Covetrus from Neutral to Buy and set a new price target of $30.00
Raymond James reiterated coverage of Covetrus with a rating of Outperform and set a new price target of $39.00 from $31.00 previously
Raymond James reiterated coverage of Covetrus with a rating of Outperform and set a new price target of $39.00 from $31.00 previously
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