Heska Corporation (HSKA) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Heska Corporation (NASDAQ:HSKA) from a buy rating to a hold rating in a research note released on Monday morning.

HSKA has been the topic of several other research reports. Benchmark Co. lifted their target price on Heska Corporation from $106.00 to $120.00 and gave the company a buy rating in a research note on Thursday, August 3rd. Zacks Investment Research raised Heska Corporation from a hold rating to a buy rating and set a $101.00 target price on the stock in a research note on Thursday, May 4th. B. Riley reissued a neutral rating and set a $83.00 target price on shares of Heska Corporation in a research note on Friday, April 28th. Finally, Aegis assumed coverage on Heska Corporation in a research note on Thursday, June 1st. They issued a buy rating and a $114.50 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $105.20.

Shares of Heska Corporation (NASDAQ:HSKA) opened at 98.59 on Monday. The company has a market capitalization of $712.41 million, a PE ratio of 50.25 and a beta of 0.82. The stock’s 50 day moving average price is $101.46 and its 200 day moving average price is $96.39. Heska Corporation has a 12 month low of $46.51 and a 12 month high of $115.00.

Heska Corporation (NASDAQ:HSKA) last issued its earnings results 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. The company had revenue of $34.30 million for the quarter, compared to the consensus estimate of $33.35 million. Heska Corporation had a return on equity of 15.87% and a net margin of 10.70%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. On average, analysts forecast that Heska Corporation will post $2.04 EPS for the current year.

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In other news, EVP Rod Lippincott sold 11,227 shares of Heska Corporation stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $98.00, for a total value of $1,100,246.00. Following the completion of the transaction, the executive vice president now owns 11,292 shares in the company, valued at approximately $1,106,616. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steve Asakowicz sold 382 shares of Heska Corporation stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $100.08, for a total value of $38,230.56. Following the completion of the transaction, the executive vice president now owns 10,382 shares of the company’s stock, valued at approximately $1,039,030.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,265 shares of company stock worth $2,983,439. Corporate insiders own 14.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in shares of Heska Corporation during the first quarter worth approximately $101,000. Royal Bank of Canada boosted its position in shares of Heska Corporation by 96.9% in the second quarter. Royal Bank of Canada now owns 1,014 shares of the medical research company’s stock worth $103,000 after buying an additional 499 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Heska Corporation by 1,306.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,167 shares of the medical research company’s stock worth $123,000 after buying an additional 1,084 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Heska Corporation during the second quarter worth approximately $127,000. Finally, LS Investment Advisors LLC boosted its position in shares of Heska Corporation by 411.2% in the second quarter. LS Investment Advisors LLC now owns 1,278 shares of the medical research company’s stock worth $130,000 after buying an additional 1,028 shares during the period. Hedge funds and other institutional investors own 79.81% 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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