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Market Watch: Stocks Driven by ‘Pet Parents’

Market Watch: Stocks Driven by 'Pet Parents'NEW YORK — It was relatively a quiet week for the pet industry in terms of the market place, but it did bring the announcement of a new president for a newly formed group, the filing of a Form 8-K for a stock sale and a little insight into the industry’s growth — driven by the dawning age of “pet parents.”

Welcome, Madame President

On Thursday, Sept. 24, Henry Schein Inc. (Nasdaq: HSIC) announced the appointment of Lonnie Shoff as president of Henry Schein Global Healthcare Specialties Group.

Henry Schein is primarily in the dental products business but also distributes animal health products, in addition to software systems to dentists, medical doctors and animal health clinics.

Within Global Healthcare Specialties Group — a newly formed division — Shoff will be responsible for the dental specialties and global exclusive brands. Previously, Shoff was at Roche Diagnostics for more than 20 years, where she was senior vice president and general manager of the Applied Science group, as well as in charge of U.S. commercial operations for the $350 million group.

Henry Schein’s stock price has been steadily increasing for the past six months with a 52-week low of $32per share but has remained above $50 per share in the past month. As of press time, the announcement of Shoff’s appointment appears to have no significant effect on the stock price.

8-K Filed for Sale of Stock

On Friday, Sept. 18, MWI Veterinary Supply Inc. (Nasdaq: MWIV), which distributes pharmaceuticals, vaccines, diagnostics, capital equipment, supplies, veterinary pet food, and nutritional products to veterinarians, filed a Form 8-K with the SEC concerning a trading plan created by its parent company, Agri Beef Co.

Sold to the beef producer in 1981, the form disclosed “that Agri Beef Co. has entered into a pre-arranged stock trading plan to sell a limited number of their shares of the [MWI’s] common stock. The 10b5-1 Plan entered into by Agri Beef Co. allows for the sale of a maximum of 227,346 shares of the company’s common stock through August 31, 2010.”

Following the announcement last Friday, the company’s stock saw a slight jump Monday and Tuesday reaching more than $42 per share but generally appears to be remaining in its previous range for the past month between $38 and $40 per share. The 52-week range for the company’s stock is $20.16 to $42.21 per share.

Why PetMed Express Could Grow & Grow

Last Thursday, Sept. 17, the Motley Fool’s Matt Koppenheffer named seven stocks he predicted would surely grow over the next several years and PetMed Express (Nasdaq: PETS) was one of the lucky seven.

But, his reasoning appeared to have nothing to do with luck but rather healthy financials — citing almost no debt, positive cash flow and doubling of revenue in four years — as well as pet owners.

As Koppenheffer puts it: “Gone are the days when Fido was relegated to the backyard and treated like, well, an animal. Pet owners increasingly see their pets as a part of the family, and in many cases are as concerned about the well-being of their dog or cat as they would be about a child.”

PetMed’s stock has fluctuated in the past year, at times below $13 per share but has remained steadily above $17 per share for the past two months.

That’s the latest business news in the pet industry. Stay tuned for another round-up at the end of next week.

By:  Jennifer Fernicola – business correspondent for Zootoo Pet News.

Posted:  Just One More Pet

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September 27, 2009 - Posted by | Animal or Pet Related Stories, Just One More Pet, pet products, Pets, Unusual Stories | , , , , , , , , , , , , , , , , , , , , , , , , ,

1 Comment »

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