Investors Wag Tails as Veterinarian Survey Sends VCA Shares UpRyan Sachetta
VCA Inc., the U.S. veterinary company that trades under the ticker WOOF, rose the most since October after an analyst published a survey of veterinarians who said business was good at their pet practices.
Shares of VCA gained 4.3 percent to $56.08 at 3:01 p.m. in New York. The stock has gained 51 percent in the last year, as of Thursday’s close.
Jonathan Block, an analyst with Stifel Nicolaus & Co., published a survey of veterinarians asking how business had been. Out of 150 responses, 55 percent said they didn’t have a bad month in the second quarter of 2015.
“This was the highest percentage of no bad month that we have seen in our checks, and the fifth straight quarter where over one-third of respondents cited no bad month,” Block said in a note to clients Friday.
VCA operates about 600 pet clinics in North America, and calls itself the leading provider of companion animal veterinary services in the U.S.
Veterinary and animal health businesses can often track the broader economy. When times are good, people have more income to spend on their pets. The Los Angeles, California-based company reports second-quarter earnings on July 29.
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