Skandinaviska Enskilda Banken AB publ Purchases 223,907 Shares of Zoetis Inc. (NYSE:ZTS)

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 241.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 316,545 shares of the company’s stock after purchasing an additional 223,907 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.07% of Zoetis worth $54,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Aveo Capital Partners LLC purchased a new position in shares of Zoetis during the fourth quarter worth approximately $225,000. Gryphon Financial Partners LLC increased its position in shares of Zoetis by 11.8% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,056 shares of the company’s stock valued at $601,000 after buying an additional 322 shares during the period. Jump Financial LLC purchased a new position in shares of Zoetis in the 4th quarter valued at approximately $339,000. Level Four Advisory Services LLC lifted its position in Zoetis by 11.7% during the fourth quarter. Level Four Advisory Services LLC now owns 1,504 shares of the company’s stock valued at $297,000 after buying an additional 157 shares during the period. Finally, TrinityPoint Wealth LLC boosted its stake in Zoetis by 0.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 22,319 shares of the company’s stock worth $4,405,000 after acquiring an additional 73 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ZTS shares. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research lifted their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus upped their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler raised their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $220.38.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $193.24 on Friday. The stock has a market cap of $88.17 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 2.98 and a beta of 0.88. The company has a 50 day simple moving average of $184.42 and a two-hundred day simple moving average of $174.44. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. 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 issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $1.41 earnings per share. As a group, analysts predict that Zoetis Inc. will post 5.84 earnings per share for the current 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.