Bank of America Boosts Trupanion (NASDAQ:TRUP) Price Target to $56.00

Trupanion (NASDAQ:TRUP) had its price target raised by Bank of America from $47.00 to $56.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on TRUP. Evercore ISI upgraded shares of Trupanion to a strong-buy rating in a research note on Friday, August 9th. Northland Securities boosted their target price on shares of Trupanion from $35.00 to $45.00 and gave the stock a market perform rating in a research note on Thursday, September 19th. Piper Sandler increased their price target on Trupanion from $30.00 to $38.00 and gave the company a neutral rating in a research note on Friday, August 9th. Stifel Nicolaus reissued a hold rating and set a $30.00 price objective (up previously from $22.00) on shares of Trupanion in a report on Friday, August 9th. Finally, William Blair initiated coverage on Trupanion in a report on Friday, July 19th. They issued an outperform rating for the company. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $40.67.

Trupanion Stock Performance

Shares of NASDAQ:TRUP opened at $42.26 on Friday. Trupanion has a 1 year low of $19.14 and a 1 year high of $49.14. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -66.03 and a beta of 1.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.63 and a quick ratio of 1.63. The company’s 50 day simple moving average is $40.75 and its 200 day simple moving average is $31.84.

Trupanion (NASDAQ:TRUP) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. The company had revenue of $314.80 million during the quarter, compared to analysts’ expectations of $309.33 million. Trupanion had a negative return on equity of 6.29% and a negative net margin of 1.57%. Trupanion’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.33) EPS. As a group, research analysts predict that Trupanion will post -0.37 EPS for the current fiscal year.

Insider Activity at Trupanion

In other Trupanion news, CEO Margaret Tooth sold 7,500 shares of Trupanion stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $46.48, for a total transaction of $348,600.00. Following the transaction, the chief executive officer now directly owns 99,984 shares of the company’s stock, valued at approximately $4,647,256.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Fawwad Qureshi sold 624 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $46.54, for a total transaction of $29,040.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Margaret Tooth sold 7,500 shares of Trupanion stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.48, for a total transaction of $348,600.00. Following the transaction, the chief executive officer now directly owns 99,984 shares of the company’s stock, valued at approximately $4,647,256.32. The disclosure for this sale can be found here. Insiders sold 8,764 shares of company stock worth $405,238 over the last three months. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Trupanion

A number of institutional investors have recently bought and sold shares of TRUP. Sivia Capital Partners LLC acquired a new position in shares of Trupanion in the 4th quarter valued at about $31,398,000. 8 Knots Management LLC acquired a new position in Trupanion in the fourth quarter valued at approximately $21,165,000. Wellington Management Group LLP boosted its holdings in shares of Trupanion by 34.6% during the 4th quarter. Wellington Management Group LLP now owns 2,453,685 shares of the financial services provider’s stock worth $74,862,000 after buying an additional 630,155 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Trupanion during the 2nd quarter worth approximately $4,739,000. Finally, Hosking Partners LLP bought a new stake in shares of Trupanion in the 2nd quarter valued at $3,523,000.

About Trupanion

Trupanion, Inc, together with its subsidiaries, provides medical insurance for cats and dogs on a monthly subscription basis in the United States, Canada, Continental Europe, and Australia. The company operates in two segments, Subscription Business and Other Business. It serves pet owners and veterinarians.