Piper Sandler Cuts Zoetis (NYSE:ZTS) Price Target to $200.00

Zoetis (NYSE:ZTS) had its price target reduced by Piper Sandler from $210.00 to $200.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

ZTS has been the topic of several other reports. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group initiated coverage on shares of Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective on the stock. Leerink Partners initiated coverage on shares of Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley lowered their price target on shares of Zoetis from $248.00 to $243.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $214.00.

Zoetis Stock Down 0.2 %

NYSE ZTS opened at $173.99 on Monday. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average is $169.11 and its two-hundred day moving average is $179.11. The company has a market capitalization of $78.50 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 2.77 and a beta of 0.90. Zoetis has a 1-year low of $144.80 and a 1-year high of $200.53.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Zoetis’s payout ratio is presently 37.59%.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the transaction, the executive vice president now directly owns 16,107 shares of the company’s stock, valued at approximately $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Zoetis

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cherry Creek Investment Advisors Inc. boosted its position in shares of Zoetis by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after purchasing an additional 58 shares in the last quarter. Mission Wealth Management LP raised its holdings in shares of Zoetis by 2.0% during the fourth quarter. Mission Wealth Management LP now owns 2,938 shares of the company’s stock worth $479,000 after acquiring an additional 59 shares during the period. Grove Bank & Trust raised its holdings in shares of Zoetis by 0.5% during the third quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock worth $2,298,000 after acquiring an additional 61 shares during the period. Hancock Whitney Corp raised its holdings in shares of Zoetis by 0.3% during the third quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock worth $3,628,000 after acquiring an additional 61 shares during the period. Finally, Strategy Asset Managers LLC raised its holdings in shares of Zoetis by 3.5% during the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock worth $356,000 after acquiring an additional 62 shares during the period. 92.80% of the stock is owned by institutional investors.

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.