Zoetis (NYSE:ZTS) Receives Outperform Rating from William Blair

William Blair reiterated their outperform rating on shares of Zoetis (NYSE:ZTS – Get Rating) in a research note released on Friday, PriceTargets.com reports. William Blair also issued estimates for Zoetis’ Q3 2022 earnings at $1.23 EPS, Q4 2022 earnings at $1.27 EPS, FY2022 earnings at $5.02 EPS, Q1 2023 earnings at $1.40 EPS and Q4 2023 earnings at $1.38 EPS.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Zoetis from $208.00 to $202.00 and set a buy rating for the company in a research report on Thursday, July 21st. Piper Sandler initiated coverage on shares of Zoetis in a research report on Monday, July 11th. They set an overweight rating and a $205.00 target price for the company. Stifel Nicolaus cut their target price on shares of Zoetis from $275.00 to $225.00 and set a buy rating for the company in a research report on Friday, June 24th. Finally, StockNews.com lowered shares of Zoetis from a strong-buy rating to a buy rating in a research report on Tuesday, April 26th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $224.88.

Zoetis Stock Up 0.2 %

Shares of Zoetis stock opened at $174.61 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.58 and a current ratio of 2.25. The stock has a market capitalization of $82.18 billion, a PE ratio of 40.05, a price-to-earnings-growth ratio of 3.06 and a beta of 0.73. Zoetis has a 52-week low of $154.18 and a 52-week high of $249.27. The company has a 50-day simple moving average of $171.80 and a two-hundred day simple moving average of $181.35.

Zoetis (NYSE:ZTS – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.02). Zoetis had a return on equity of 49.62% and a net margin of 26.27%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Zoetis will post 5.04 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, July 21st will be paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Wednesday, July 20th. Zoetis’s payout ratio is 29.82%.

Insider Activity at Zoetis

In other Zoetis news, Director Willie M. Reed sold 1,855 shares of the business’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $162.31, for a total transaction of $301,085.05. Following the transaction, the director now owns 6,782 shares in the company, valued at $1,100,786.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Zoetis news, Director Willie M. Reed sold 1,855 shares of the business’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $162.31, for a total transaction of $301,085.05. Following the transaction, the director now owns 6,782 shares in the company, valued at $1,100,786.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Roxanne Lagano sold 2,167 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $180.26, for a total transaction of $390,623.42. Following the transaction, the executive vice president now owns 23,687 shares in the company, valued at approximately $4,269,818.62. The disclosure for this sale can be found here. Insiders have sold a total of 18,356 shares of company stock valued at $3,250,158 over the last 90 days. 0.12% of the stock is owned by corporate insiders.

Institutional Trading of Zoetis

Hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in Zoetis by 8.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 14,234 shares of the company’s stock worth $3,474,000 after buying an additional 1,138 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Zoetis by 23.8% in the 4th quarter. Pinnacle Associates Ltd. now owns 5,625 shares of the company’s stock valued at $1,373,000 after acquiring an additional 1,081 shares during the period. Valmark Advisers Inc. acquired a new stake in Zoetis in the 4th quarter valued at $299,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoetis in the 4th quarter valued at $48,000. Finally, TrueWealth Advisors LLC acquired a new stake in Zoetis in the 4th quarter valued at $303,000. 90.73% of the stock is owned by hedge funds and other institutional investors.

Zoetis Company Profile

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Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.