Zoetis (NYSE:ZTS) Shares Gap Down – What’s Next?

Zoetis Inc. (NYSE:ZTS)’s share price gapped down prior to trading on Monday . The stock had previously closed at $181.95, but opened at $176.63. Zoetis shares last traded at $177.10, with a volume of 460,178 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZTS. Piper Sandler boosted their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Finally, BTIG Research lifted their price target on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $221.44.

Zoetis Stock Up 0.1 %

The stock has a market cap of $79.41 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.68 and a beta of 0.90. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The company has a 50-day simple moving average of $188.71 and a two-hundred day simple moving average of $179.23.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 52.59%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 EPS. On average, equities analysts forecast that Zoetis Inc. will post 5.91 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. Zoetis’s dividend payout ratio is presently 32.52%.

Institutional Investors Weigh In On Zoetis

Large investors have recently made changes to their positions in the business. First Personal Financial Services purchased a new position in shares of Zoetis during the third quarter valued at about $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis in the 3rd quarter worth approximately $33,000. Quarry LP boosted its position in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock worth $46,000 after purchasing an additional 222 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Zoetis during the first quarter valued at $43,000. 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.