HSBC Lowers Zoetis (NYSE:ZTS) Price Target to $225.00

Zoetis (NYSE:ZTS) had its price target reduced by HSBC from $230.00 to $225.00 in a research note released on Wednesday, Benzinga reports. HSBC currently has a buy rating on the stock.

Several other analysts have also recently commented on the company. Piper Sandler reissued an overweight rating and set a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Barclays reduced their price objective on Zoetis from $260.00 to $230.00 and set an overweight rating for the company in a research report on Tuesday, April 23rd. The Goldman Sachs Group reduced their price objective on Zoetis from $223.00 to $196.00 and set a buy rating for the company in a research report on Monday. StockNews.com cut Zoetis from a strong-buy rating to a buy rating in a research report on Tuesday, February 20th. Finally, Stifel Nicolaus reduced their price objective on Zoetis from $195.00 to $180.00 and set a buy rating for the company in a research report on Tuesday, April 30th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $211.75.

Zoetis Price Performance

Shares of NYSE ZTS traded up $1.50 during mid-day trading on Wednesday, reaching $166.42. The company had a trading volume of 727,321 shares, compared to its average volume of 3,167,603. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. The stock has a market cap of $75.94 billion, a PE ratio of 32.13, a P/E/G ratio of 2.57 and a beta of 0.86. The company has a 50-day moving average price of $167.64 and a two-hundred day moving average price of $178.93. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 EPS. On average, equities analysts anticipate that Zoetis will post 5.77 earnings per share for the current year.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $173.33, for a total value of $159,983.59. Following the transaction, the executive vice president now directly owns 15,723 shares in the company, valued at approximately $2,725,267.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 2,209 shares of company stock worth $371,293. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Zoetis by 7.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 93,735 shares of the company’s stock valued at $16,308,000 after purchasing an additional 6,457 shares during the period. Peak Financial Advisors LLC bought a new position in shares of Zoetis in the 4th quarter valued at about $2,776,000. Ninety One UK Ltd grew its holdings in shares of Zoetis by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock valued at $21,374,000 after acquiring an additional 12,537 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Zoetis by 10.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock worth $36,230,000 after purchasing an additional 17,976 shares during the period. Finally, GuoLine Advisory Pte Ltd grew its holdings in Zoetis by 25.0% during the fourth quarter. GuoLine Advisory Pte Ltd now owns 174,400 shares of the company’s stock worth $34,421,000 after purchasing an additional 34,900 shares during the period. 92.80% of the stock is currently owned by institutional investors.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.