Cornerstone Wealth Group LLC Invests $334,000 in Zoetis Inc. (NYSE:ZTS)

Cornerstone Wealth Group LLC purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,924 shares of the company’s stock, valued at approximately $334,000.

Other large investors also recently made changes to their positions in the company. Webster Bank N. A. boosted its stake in shares of Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in shares of Zoetis during the 4th quarter worth about $33,000. Gladius Capital Management LP bought a new stake in shares of Zoetis during the 4th quarter worth about $40,000. Neo Ivy Capital Management bought a new stake in shares of Zoetis during the 4th quarter worth about $40,000. Finally, LRI Investments LLC bought a new stake in shares of Zoetis during the 1st quarter worth about $43,000. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ZTS shares. Stifel Nicolaus boosted their price objective on Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. BTIG Research boosted their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group cut their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $217.11.

Zoetis Price Performance

NYSE ZTS traded down $1.27 during trading hours on Friday, reaching $180.90. 1,262,412 shares of the company’s stock were exchanged, compared to its average volume of 1,969,611. The stock has a market cap of $81.96 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 2.79 and a beta of 0.86. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The firm has a fifty day moving average of $178.56 and a 200-day moving average of $175.08. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 EPS. On average, equities research analysts predict that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

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.