PetIQ, Inc. (NASDAQ:PETQ) Shares Acquired by Millennium Management LLC

Millennium Management LLC raised its stake in shares of PetIQ, Inc. (NASDAQ:PETQ - Free Report) by 476.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 486,445 shares of the company's stock after buying an additional 402,057 shares during the period. Millennium Management LLC owned about 1.64% of PetIQ worth $10,731,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PETQ. Nomura Holdings Inc. raised its stake in shares of PetIQ by 7.1% during the 4th quarter. Nomura Holdings Inc. now owns 423,496 shares of the company's stock valued at $8,364,000 after buying an additional 28,231 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of PetIQ by 11.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company's stock valued at $20,467,000 after buying an additional 108,870 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of PetIQ during the 4th quarter valued at about $1,410,000. Los Angeles Capital Management LLC raised its stake in shares of PetIQ by 196.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 129,632 shares of the company's stock valued at $2,370,000 after buying an additional 85,920 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of PetIQ by 105.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 140,660 shares of the company's stock valued at $2,571,000 after buying an additional 72,187 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company's stock.

Wall Street Analyst Weigh In

PETQ has been the subject of several recent analyst reports. William Blair lowered PetIQ from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 7th. Truist Financial lowered PetIQ from a "buy" rating to a "hold" rating and lifted their price target for the company from $30.00 to $31.00 in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.67.

PetIQ Price Performance

NASDAQ:PETQ traded down $0.02 during trading hours on Tuesday, hitting $30.85. 598,940 shares of the stock were exchanged, compared to its average volume of 480,114. PetIQ, Inc. has a 52-week low of $15.09 and a 52-week high of $31.06. The firm's fifty day moving average price is $29.68 and its 200 day moving average price is $23.30. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68. The company has a market cap of $922.11 million, a P/E ratio of 140.23 and a beta of 1.73.

PetIQ (NASDAQ:PETQ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.50 by $0.20. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The company had revenue of $328.90 million during the quarter, compared to analyst estimates of $330.14 million. During the same period in the previous year, the business earned $0.37 EPS. PetIQ's quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts anticipate that PetIQ, Inc. will post 1.15 EPS for the current fiscal year.

About PetIQ

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.