Zoetis (NYSE:ZTS) Trading Down 0.4% Following Analyst Downgrade

Zoetis Inc. (NYSE:ZTS) shares dropped 0.4% during mid-day trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $195.00 to $180.00. Stifel Nicolaus currently has a buy rating on the stock. Zoetis traded as low as $158.04 and last traded at $158.60. Approximately 979,969 shares changed hands during trading, a decline of 69% from the average daily volume of 3,120,154 shares. The stock had previously closed at $159.24.

ZTS has been the topic of several other research reports. Barclays cut their price objective on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group upped their target price on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Zoetis presently has a consensus rating of “Buy” and a consensus price target of $216.13.

Insider Activity at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 363 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $197.74, for a total value of $71,779.62. Following the sale, the executive vice president now owns 20,417 shares in the company, valued at approximately $4,037,257.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 2,209 shares of company stock worth $371,293 over the last quarter. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Zoetis

Hedge funds have recently bought and sold shares of the stock. Blue Bell Private Wealth Management LLC boosted its position in Zoetis by 222.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Independence Bank of Kentucky grew its stake in Zoetis by 371.4% in the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 130 shares during the period. Private Wealth Management Group LLC acquired a new stake in Zoetis in the 4th quarter valued at $33,000. Webster Bank N. A. grew its stake in Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. Finally, Ramirez Asset Management Inc. acquired a new stake in Zoetis in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Up 5.5 %

The business’s 50 day moving average is $169.48 and its 200-day moving average is $178.89. The stock has a market cap of $76.48 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 2.50 and a beta of 0.86. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Zoetis Inc. will post 5.78 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be paid a $0.432 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a yield of 1.03%. Zoetis’s dividend payout ratio is currently 34.12%.

Zoetis Company Profile

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.