Alaethes Wealth LLC Cuts Stake in Zoetis Inc. (NYSE:ZTS)

Alaethes Wealth LLC decreased its holdings in Zoetis Inc. (NYSE:ZTS) by 13.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,250 shares of the company’s stock after selling 1,139 shares during the period. Alaethes Wealth LLC’s holdings in Zoetis were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Webster Bank N. A. raised its position 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 purchasing an additional 82 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Zoetis during the 4th quarter worth approximately $40,000. LRI Investments LLC purchased a new stake in shares of Zoetis in the 1st quarter valued at approximately $43,000. Hazlett Burt & Watson Inc. lifted its position in shares of Zoetis by 60.7% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock worth $46,000 after purchasing an additional 102 shares during the last quarter. Finally, Central Valley Advisors LLC acquired a new position in shares of Zoetis during the second quarter worth $49,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

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

Zoetis Price Performance

ZTS stock opened at $192.73 on Friday. The business has a 50 day simple moving average of $184.70 and a 200-day simple moving average of $174.47. The company has a market capitalization of $87.94 billion, a P/E ratio of 37.13, a PEG ratio of 2.98 and a beta of 0.88. Zoetis Inc. has a twelve month low of $144.80 and a twelve 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business posted $1.41 earnings per share. Zoetis’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts anticipate that Zoetis Inc. will post 5.84 EPS for the current year.

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.