Topic: How To Invest

Q: What does TSI recommend in terms of buying PetMed Express? Thanks.

Article Excerpt

A: PetMed Express Inc., $16.13, symbol PETS on Nasdaq, (Shares outstanding: 21.1 million; Market cap: $342.4 million;, is a leading online pet pharmacy selling across the U.S. The company does business as 1-800-PetMeds. It sells prescription and non-prescription medications, and other health-related products, through three main channels: the Internet, telephone contact centres, and direct mail. On January 17, 2023, PetMed Express announced that it would expand its offerings with the acquisition of PetCareRx. It is an online supplier of pet food, and supplies. PedMed has not yet disclosed the purchase price for the Lynbrook, New York, firm, which was founded in 1998. PetCareRx carries dry, wet and freeze-dried dog and cat food formulas, as well as treats, vitamins and supplements from a variety of pet nutrition brands. They include Blue Buffalo, Ark Naturals, Purina, Canidae, IAMS, Earthborn Holistic, Hill’s Pet Nutrition and many others. Its extensive product lineup includes more than 100,000 wellness products. The PetCareRx acquisition is expected to immediately add…