Heska (NASDAQ:HSKA) Receives “Buy” Rating from Canaccord Genuity

Canaccord Genuity reissued their buy rating on shares of Heska (NASDAQ:HSKA) in a report issued on Wednesday morning, The Fly reports. Canaccord Genuity currently has a $105.00 price objective on the medical research company’s stock, up from their prior price objective of $75.00.

HSKA has been the subject of several other research reports. ValuEngine upgraded Heska from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Piper Jaffray Companies started coverage on Heska in a research note on Wednesday, September 18th. They issued a neutral rating and a $68.00 target price for the company. Zacks Investment Research downgraded Heska from a buy rating to a hold rating in a research note on Thursday, October 24th. Finally, BidaskClub upgraded Heska from a hold rating to a buy rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $85.75.

Shares of Heska stock traded up $0.93 during trading on Wednesday, reaching $91.58. 74,900 shares of the stock traded hands, compared to its average volume of 89,917. The company has a market capitalization of $735.22 million, a price-to-earnings ratio of 64.49 and a beta of 1.06. The business has a fifty day simple moving average of $75.74 and a two-hundred day simple moving average of $76.31. Heska has a 52-week low of $62.47 and a 52-week high of $105.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.52 and a quick ratio of 2.05.

Heska (NASDAQ:HSKA) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $31.24 million during the quarter, compared to the consensus estimate of $30.44 million. Heska had a return on equity of 3.17% and a net margin of 3.15%. On average, research analysts predict that Heska will post 0.04 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in shares of Heska by 2.0% during the 1st quarter. FMR LLC now owns 453,664 shares of the medical research company’s stock valued at $38,616,000 after buying an additional 8,870 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Heska during the second quarter valued at approximately $852,000. NJ State Employees Deferred Compensation Plan raised its holdings in shares of Heska by 40.0% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 7,000 shares of the medical research company’s stock valued at $596,000 after acquiring an additional 2,000 shares during the period. Arizona State Retirement System raised its holdings in shares of Heska by 2.7% during the second quarter. Arizona State Retirement System now owns 10,821 shares of the medical research company’s stock valued at $922,000 after acquiring an additional 285 shares during the period. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of Heska during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 92.57% of the company’s stock.

About Heska

Heska Corporation manufactures, sells, and markets veterinary diagnostic and specialty products for canine and feline healthcare markets in the United States, Canada, Europe, and internationally. The company's Core Companion Animal segment offers Element DC and DRI-CHEM 7000 veterinary chemistry analyzers for blood chemistry and electrolyte analysis; Element HT5 and HemaTrue veterinary hematology analyzers to measure blood cell and platelet count, and hemoglobin levels; Element POC blood gas and electrolyte analyzers; Element i immunodiagnostic analyzers; Element COAG veterinary analyzers; and IV infusion pumps.

Further Reading: Initial Coin Offerings entail a high degree of risk

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Analyst Recommendations for Heska (NASDAQ:HSKA)

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