More in love with pets than people? Maybe this is a critical statement but truth is that COVID’s isolation has shown, that pets may be more loyal, loving, and certainly not arguing.
Investor telegraph looks at 4 pet stocks that will be keenly watched in 2021.
1.Trupanion Inc. (Nasdaq: TRUP)
The company offers medical insurance for cats and dogs in the U.S., Canada, Australia, and Puerto Rico. Trupanion is self-underwritten by the American Pet Insurance Company (APIC).
With the increased ownership of pets along with the adoption of dogs especially which soared as many people worked at home and sought companionship during the COVID times, the company is truly envisaging.
The pet insurance markets in North America are way underpenetrated, with only 1% of U.S. pets and around 2% of pets in Canada covered by medical insurance.
By comparison, 1 out of 4 cats and dogs in the U.K. have medical insurance. Its revenue jumped 31% year over year in the third quarter of 2020. and monthly average revenue per Pet and the Lifetime Value per Pet have been trending up.
It a “first mover” advantage. The stock has been through the roof with a five times jump in the past 12 months and will be a close watch in 2021. Presently it looks attractive at the $115 level.
2.PetIQ, Inc. ( Nasdaq: PETQ)
PetIQ, Inc. is a leading pet medication and wellness company, delivering prescription medication, over-the-counter treatments, and treats to leading retailers across the country.
Prior to COVID-19, the Company was experiencing double-digit growth in pet counts and average ticket at all wellness centers and clinics. The firm has seen solid earnings estimate revision activity over the past quarter, suggesting analysts to be bullish on the firm’s prospects in both the short and long term.
The stock more than doubled in the past year and has consistently climbed by over 40 percent in the last three years and now seems to be in acceleration mode.
At a price of below $ 40, it is a stock to watch for.
3.Freshpet (Nasdaq: FRPT)
Freshpet is an American manufacturer of fresh, refrigerated food and treats for dogs and cats using natural ingredients, and are the first in the fresh and refrigerated category to be distributed across North America.
Its stock hit an all-time high in Aug last year. Since than. it has held on to the high levels and has tripled at the beginning of 2021.
This was in line with the delivery of revenues of US$84m and statutory earnings per share of US$0.09. Despite capacity limitations and the COVID pandemic, it continues to deliver incredibly strong and consistent growth on the top line and even stronger growth on the bottom line and looks like a rock-solid investment at below $ 150 levels.
4. Elanco Animal Health(NYSE: ELAN)
Based in Indiana, Elanco Animal Health develops products and services that treat diseases in pets and commercial animals. The company recently announced that it will provide an unprecedented view of its pipeline, starting with eight expected launches in 2021, including one with blockbuster potential.
Innovation contributions will lead the company’s sustainable top-line growth, expected to add about $80 million to $150 million in revenue annually, or 2%-3% to total company revenue growth
The stock has been trading in the range of $15 – $ 30 in the past year and with ambitious plans for 2021, it is one good stock to watch.
So happy purring in 2021.
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