Covetrus, Inc. (CVET) Stock Analysis
DELISTED 2022
What happened to Covetrus, Inc. (CVET) stock?
Covetrus, Inc. (CVET) no longer trades on public markets. It was delisted in October 2022. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Covetrus, Inc. (CVET) trades at $20.99. Covetrus, Inc. is an animal-health technology and services company. It provides products, software, and services to animal-health and veterinary practices across North America, Europe, and the Asia Pacific. Sector: Healthcare.
Last analyzed: May 9, 2026Analyst Coverage for CVET: CVET does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates CVET against Healthcare peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
CVET: 1/2 scored disciplines lean bearish. Dominant signal: Ray Dalio bullish.
How is this calculated? →Covetrus, Inc. (CVET) Healthcare & Pipeline Overview
Covetrus, Inc. delivers animal-health technology and services, offering a range of products from consumables to practice management software. Serving companion-animal, equine, and large-animal markets, Covetrus operates across North America, Europe, and Asia Pacific, providing integrated solutions for veterinary practices and animal-health clinics.
What Is the Investment Thesis for CVET?
Covetrus operates in the growing animal health market, providing technology and services to veterinary practices. The company's comprehensive product offerings, including consumables, software, and value-added services, position it as a one-stop solution for veterinary clinics. Covetrus has a gross margin of 18.8%. Growth catalysts include expanding its software and technology solutions, increasing penetration in international markets, and leveraging its distribution network to introduce new products. Potential risks include negative profit margin of -1.9%, competition from other animal health distributors, and the integration challenges associated with acquisitions.
Based on FMP financials and quantitative analysis
CVET Key Highlights
Covetrus serves animal-health and veterinary practices and clinics in the companion-animal, equine, and large-animal markets.
- The company operates across North America, Europe, and the Asia Pacific.
- Covetrus offers a range of products, including animal-health consumables, equipment, pharmaceuticals, and software solutions.
- Covetrus has a gross margin of 18.8%.
- Covetrus employs approximately 4,035 individuals.
Who Are CVET's Competitors?
CVET is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ONEM ONEM | $16.47 | +0.00% | $3.40B | 55 |
| MCK McKesson Corporation | $853.71 | -1.79% | $100.0B | 90 |
| COR Cencora, Inc. | $316.79 | -0.10% | $61.6B | 80 |
| CAH Cardinal Health, Inc. | $231.00 | -1.64% | $54.1B | 90 |
| ABC AmerisourceBergen Corporation | $179.98 | -0.23% | $36.2B | 45 |
| HSIC Henry Schein, Inc. | $88.46 | -0.93% | $10.1B | 73 |
| SHPMF Shanghai Pharmaceuticals Holding Co., Ltd | $1.46 | +0.00% | $8.46B | 45 |
| SHTDF Sinopharm Group Co. Ltd. | $2.13 | +0.00% | $6.65B | 45 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are CVET's Key Strengths?
Comprehensive product and service offerings.
- Established distribution network.
- Proprietary and Covetrus-branded products.
- Integrated software solutions for veterinary practices.
What Are CVET's Weaknesses?
Negative profit margin of -1.9%.
- Reliance on third-party suppliers.
- Potential integration challenges with acquisitions.
- Exposure to regulatory changes in the animal-health industry.
What Could Drive CVET Stock Higher?
Expansion of practice management software to attract new customers and increase revenue.
- Penetration of international markets to capitalize on growth in pet ownership.
- Introduction of new proprietary products to differentiate from competitors.
- Leveraging data analytics to improve operations and provide more value to customers.
What Are the Key Risks for CVET?
Negative return on equity (-5.6%) — the business is not currently generating profit on shareholder capital.
- Competition from other animal-health distributors.
- Economic downturn affecting pet ownership and spending on animal health.
- Changes in animal-health regulations impacting product approvals and market access.
- Product recalls or safety concerns damaging reputation and sales.
What Are the Growth Opportunities for CVET?
- Expansion of Practice Management Software: Covetrus can expand its market share by further developing and marketing its practice management software. This software helps veterinary clinics streamline operations, manage appointments, and improve client communication. The market for veterinary practice management software is growing, driven by the increasing adoption of digital solutions in veterinary practices. By offering a comprehensive and user-friendly software solution, Covetrus can attract new customers and increase revenue.
- Penetration of International Markets: Covetrus has the opportunity to expand its presence in international markets, particularly in Asia Pacific and Europe. These regions are experiencing growth in pet ownership and increasing demand for animal health products and services. By establishing partnerships with local distributors and tailoring its product offerings to meet the specific needs of each market, Covetrus can capitalize on this growth opportunity.
- Introduction of New Proprietary Products: Covetrus can drive revenue growth by developing and launching new proprietary animal health products. These products can include pharmaceuticals, diagnostics, and nutritional supplements. By focusing on innovation and addressing unmet needs in the animal health market, Covetrus can differentiate itself from competitors and capture a larger share of the market. The company can leverage its existing distribution network to quickly bring these new products to market.
- Leveraging Data Analytics: Covetrus can leverage data analytics to improve its operations and provide more value to its customers. By analyzing data on product sales, customer behavior, and market trends, Covetrus can optimize its inventory management, personalize its marketing efforts, and identify new product opportunities. Data analytics can also help veterinary practices improve patient care and optimize their business operations. Covetrus can offer data analytics services as a value-added solution to its customers.
- Strategic Acquisitions: Covetrus can pursue strategic acquisitions to expand its product offerings, geographic reach, and technological capabilities. By acquiring companies with complementary products or services, Covetrus can strengthen its competitive position and accelerate its growth. Potential acquisition targets could include companies specializing in veterinary diagnostics, telemedicine, or specialized animal health products. These acquisitions can provide Covetrus with access to new markets and technologies.
What Are CVET's Competitive Advantages?
- Established distribution network across North America, Europe, and Asia Pacific.
- Comprehensive suite of products and services, including consumables, software, and value-added solutions.
- Proprietary and Covetrus-branded products.
- Integrated solutions that enhance staff efficiency and improve business health for veterinary practices.
What Does CVET Do?
Covetrus, Inc. was incorporated in 2018 and is headquartered in Portland, Maine. Formerly known as HS Spinco, Inc., Covetrus emerged as a dedicated animal-health technology and services company. The company offers a comprehensive suite of products, including animal-health consumables such as proprietary and Covetrus-branded products, small and large equipment, laboratory products, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, parasiticides, and vitamins and supplements. These products are distributed to wholesale and retail customers. Beyond product distribution, Covetrus provides value-added solutions like inventory management and e-commerce platforms, along with continuing education services for veterinary practitioners. Its offerings include practice management software, data-driven applications, and client communication tools designed to enhance staff efficiency and improve business health for veterinary practices. Covetrus also provides solutions that integrate with its software platforms, including client communication services, reminders, data backup services, hardware sales and support, and credit card processing services. Covetrus serves a diverse range of animal-health and veterinary practices and clinics, catering to the companion-animal, equine, and large-animal markets. Its geographic footprint spans North America, Europe, and the Asia Pacific, reflecting its global presence in the animal-health industry. Covetrus was taken private on October 13, 2022.
What Products and Services Does CVET Offer?
- Distributes animal-health consumable products, including pharmaceuticals, vaccines, and supplements.
- Offers proprietary and Covetrus-branded products.
- Provides small and large equipment, along with repair services.
- Supplies laboratory products and diagnostic tests.
- Offers practice management software and data-driven applications.
- Provides client communication tools and related services to enhance business health.
- Distributes finished goods pharmacy and specialty pharmaceutical compounding products.
- Offers shipping, manufacturer incentives, service fees, and data integration and support services.
How Does CVET Make Money?
- Sells animal-health products to wholesale and retail customers.
- Provides value-added solutions such as inventory management and e-commerce platforms.
- Offers practice management software and related services to veterinary practitioners.
- Generates revenue from distribution of finished goods pharmacy and specialty pharmaceutical compounding products.
What Industry Does CVET Operate In?
The animal health industry is experiencing steady growth, driven by increasing pet ownership, rising disposable incomes, and growing awareness of animal health. The market includes pharmaceuticals, diagnostics, vaccines, and services. Covetrus competes with other distributors and technology providers in this space. The industry is also characterized by consolidation, with larger players acquiring smaller companies to expand their product offerings and geographic reach. Covetrus's focus on technology and value-added services differentiates it within this competitive landscape.
Who Are CVET's Key Customers?
- Animal-health and veterinary practices.
- Clinics in the companion-animal market.
- Clinics in the equine market.
- Clinics in the large-animal market.
Company Profile
Covetrus, Inc. operates in the Medical - Distribution industry within the Healthcare sector. It is headquartered in Portland, US. The company is led by CEO Benjamin Wolin. CVET has traded publicly since 2019.
Key Financial Metrics
Return on equity for Covetrus, Inc. stands at -5.6%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -2.5%, showing how much profit it generates from its asset base. A current ratio of 1.94 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -3.0%, the inverse of the P/E and a quick read on earnings relative to price.
CVET Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in Covetrus' strategic direction, indicating that leadership believes in the company's long-term prospects.
- Community sentiment has shifted positively, with discussions highlighting new product launches and their potential impact on market share.
- Analysts are optimistic about the veterinary services sector, with increasing pet ownership driving demand for Covetrus' offerings.
- Recent partnerships with veterinary clinics have been well-received, enhancing Covetrus' reputation and expanding its customer base.
Bear Case
- Concerns about supply chain disruptions have surfaced, raising questions about Covetrus' ability to meet growing demand effectively.
- Bearish sentiment has emerged around rising operational costs, which could impact profit margins in the near term.
- Some community members express skepticism about the sustainability of recent growth, citing potential market saturation in the veterinary supply industry.
- Recent earnings reports have shown mixed results, leading to uncertainty about Covetrus' financial health moving forward.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
CVET Latest News
No recent news available for CVET.
Leadership: Benjamin Wolin
CEO
Benjamin Wolin serves as the CEO of Covetrus, leading a team of 4,035 employees. His career spans various leadership roles in the technology and healthcare sectors. Prior to Covetrus, Wolin co-founded and served as CEO of Everyday Health, a digital health company focused on providing health and wellness information. He has a background in building and scaling technology-driven businesses, with a focus on innovation and customer experience. Wolin's experience includes strategic planning, product development, and market expansion.
Track Record: Under Benjamin Wolin's leadership, Covetrus has focused on expanding its technology offerings and strengthening its position in the animal-health market. Key milestones include the integration of various business units to create a more cohesive and efficient organization. Wolin has also overseen the development and launch of new software solutions and value-added services for veterinary practices. His leadership has emphasized innovation and customer satisfaction.
CVET Healthcare Stock FAQ
What happened to Covetrus, Inc. (CVET) stock?
Covetrus, Inc. (CVET) no longer trades on public markets. It was delisted in October 2022. The figures below are historical and are not a current quote.
Can I still buy CVET shares?
No. CVET stopped trading on public markets in October 2022, so the shares are not available through a broker. Anything you see quoted for CVET elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before CVET stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Covetrus, Inc.. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Covetrus, Inc. do?
Covetrus, Inc. operates as an animal-health technology and services company, providing a comprehensive suite of products and solutions to veterinary practices. The company distributes animal-health consumables, including pharmaceuticals, vaccines, and supplements, as well as equipment and laboratory products. Covetrus also offers practice management software, data-driven applications, and client communication tools to enhance the efficiency and business health of veterinary clinics.
What do analysts say about CVET stock?
As of October 13, 2022, Covetrus, Inc. was taken private, so there are no current analyst ratings or stock price targets available. Prior to being taken private, analysts likely focused on Covetrus's revenue growth, profitability, and market share in the animal-health industry. Key valuation metrics would have included price-to-earnings (P/E) ratio, price-to-sales (P/S) ratio, and enterprise value-to-EBITDA (EV/EBITDA).
What are the main risks for CVET?
The main risks for Covetrus, Inc. include competition from other animal-health distributors, which could pressure pricing and market share. An economic downturn could negatively impact pet ownership and spending on animal health products and services. Changes in animal-health regulations could affect product approvals and market access. Product recalls or safety concerns could damage the company's reputation and sales.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data and may not reflect the most current developments since the company was taken private.
- Financial metrics are based on the latest available data prior to the company being taken private.