VCA Antech: Northcoast Research Uncovers 3 Additional Unannounced Hospital Acquisitions

This Morning, Northcoast Research reiterated their “Neutral” rating for VCA Antech, Inc. (NASDAQ: WOOF), while increasing their FY10 estimates by $0.01.

The Firm Said: “While WOOF has not publicly disclosed any acquisition activity this quarter, our research has uncovered three additional transactions in November. With these three additional acquisitions, we have now discovered a total of six unannounced transactions during 4Q09.”

It further added “More specifically, our conversations with veterinary industry contacts indicate WOOF has recently acquired: Noah’s Place Medical Center, Town and Country Animal Hospital, and Braelinn Village Animal Hospital.”

However, the firm commented that our research continues to suggest WOOF is losing market share in its lab business and medical technology segment which represent over 40% of total operating profit. As a result, we reiterate our NEUTRAL rating on WOOF shares.”