Veralto reports April 28 with short interest up 1% week-over-week to 1.73% of float. Analysts remain divided, with recent target cuts from Stifel and UBS offset by Jefferies' upgrade to Buy.
Short interest stood at 4.30 million shares as of April 23, representing 1.73% of free float. The position rose 1% over one day but declined 1.5% over the trailing week. Cost to borrow dropped sharply to 0.39% from 0.53% a week earlier, down 26%. Utilisation sits at 0.34%, well below the 52-week high of 2.5%. Days to cover rests at 2.29 according to FINRA's April 15 settlement data. The light short presence and falling borrow costs suggest minimal pessimism heading into the quarter.
The put-call ratio registered 0.088 on April 24, running below the 20-day mean of 0.111. The z-score of -1.40 indicates call activity exceeds recent norms. The PCR sits toward the low end of its 52-week range of 0.065 to 13.0. Calls have dominated over the past week, signaling a modest bullish tilt in derivatives positioning.
Analyst coverage lacks a clear consensus rating in the snapshot. The mean price target of $108.94 implies 23% upside from the April 24 close of $88.62. Stifel's Nathan Jones lowered his target to $110 from $118 on April 14 while maintaining Buy. UBS cut to $99 from $102 on April 9, holding Neutral. Jefferies upgraded to Buy with a $110 target on March 31, up from Hold at $105. Citigroup and RBC Capital both trimmed targets in early February following the prior print. Benzinga's bull case highlights 6.9% North American core sales growth and 5.1% organic revenue expansion, driven by strong Product Quality & Innovation demand. The bear case notes 10-basis-point operating margin compression, economic headwinds, and a 4% valuation discount to peers.
The PE ratio of 20.6 rose 0.2 points over 30 days. Price-to-book climbed to 5.51, up 0.14 over the month. EV/EBITDA compressed 0.11 to 15.14 over the same window. Factor scores show strength in EPS surprise at the 74th percentile and analyst recommendation differential at the 93rd percentile. EPS momentum ranks in the 50th and 55th percentiles over 30 and 90 days. The short score ranks at the 67th percentile, utilisation at the 83rd.
Insiders sold $3.01 million net over the past 90 days, led by Senior Vice President Melissa Aquino's $1.63 million in February sales. Vanguard holds 12.2% with a 60,000-share increase through March 31. BlackRock added 275,000 shares to reach 9.9%. State Street increased its stake by 270,000 shares to 4.4%. T. Rowe Price boosted holdings by 1.07 million shares to 2.9%.
The stock fell following the February 6 print, recovered modestly after the February 4 event, and drifted lower post-February 3. The pattern suggests muted volatility around recent releases.
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