Petmed Express sees $29,233 stock purchase by Silvercape Investments

PetMed Express Inc. (NASDAQ:PETS), a company currently valued at $74.67 million with a FAIR financial health score according to InvestingPro, has seen a notable stock purchase by Silvercape Investments Ltd, a significant shareholder. According to a recent SEC filing, Silvercape Investments acquired 7,401 shares of PetMed Express’ common stock on May 20, 2025. The shares were purchased at a price of $3.95 each, amounting to a total transaction value of $29,233. Following this acquisition, Silvercape Investments now holds a total of 2,307,719 shares in the company. The stock, which currently trades at $3.72, appears undervalued based on InvestingPro’s Fair Value analysis. With strong cash positions exceeding debt levels and 11 additional key insights available on InvestingPro, investors might find valuable opportunities in this stock.

In other recent news, PetMed Express has announced a strategic partnership with Dutch, a virtual veterinary care provider. This collaboration aims to enhance pet healthcare accessibility by integrating Dutch’s telemedicine services with PetMed’s medication offerings. Dutch’s platform includes 24/7 veterinarian appointments in 34 states and has facilitated nearly 700,000 visits. Meanwhile, Morgan Stanley (NYSE:MS) has adjusted its outlook on PetMed Express, lowering the price target from $3.50 to $3.20 while maintaining an Underweight rating. The firm acknowledges PetMed’s strong market position but notes challenges due to competition. Additionally, PetMed Express has appointed Peter Batushansky to its Board of Directors, as Dr. Gian Fulgoni prepares to retire. Batushansky brings over two decades of experience in retail, pet healthcare, and private equity, which is expected to support the company’s expansion into the broader pet wellness ecosystem. This appointment follows a series of leadership changes aimed at enhancing shareholder value.

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