Americans love their pets, creating a golden opportunity for this underfollowed NASDAQ company.
Many Americans consider their pets a part of the family and are not above spending good money on them. This includes vet and hospital bills to ensure that their pets stay a part of the family. The U.S. pet expenditures market is expected to reach $143.6 billion in sales in 2023, up from $136.8 billion in 2022 and $90.5 billion in 2018, according to the American Pet Products Association. With a recent IPO on the NASDAQ, one company is poised to make a big mark on the fast-growing pet industry and potentially build tremendous shareholder value along the way.
What does the company do? It owns and operates veterinary hospitals throughout the United States. The Company specializes in small animal general practice hospitals that serve all manner of companion pets, emphasizing canine and feline breeds. In 2020, veterinary care made up 30% of the $103 billion U.S. pet industry. With nearly 30,000 veterinary clinics in the United States and less than 30% of that figure having been consolidated under current multi-unit veterinary operators, management believes there exists a large opportunity for acquisitions within the pet care space!
Learn why this may be the best pet stock to give home to in your portfolio.
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