Zoetis (NYSE:ZTS) Trading Down 4.4% Following Analyst Downgrade

Zoetis Inc. (NYSE:ZTS)’s share price dropped 4.4% during trading on Friday after Morgan Stanley lowered their price target on the stock from $243.00 to $238.00. Morgan Stanley currently has an overweight rating on the stock. Zoetis traded as low as $158.36 and last traded at $157.69. Approximately 1,536,488 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 2,906,391 shares. The stock had previously closed at $164.93.

A number of other analysts also recently issued reports on the company. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus lowered their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Leerink Partners initiated coverage on Zoetis in a research report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price on the stock. UBS Group started coverage on Zoetis in a research report on Monday, December 9th. They issued a “neutral” rating and a $196.00 target price on the stock. Finally, Piper Sandler lowered their price target on Zoetis from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. One investment 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $214.90.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the completion of the sale, the executive vice president now directly owns 16,107 shares in the company, valued at $2,757,196.26. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cherry Creek Investment Advisors Inc. increased its holdings 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 buying an additional 58 shares in the last quarter. Mission Wealth Management LP increased 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 buying an additional 59 shares in the last quarter. Hancock Whitney Corp increased 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 buying an additional 61 shares in the last quarter. Strategy Asset Managers LLC increased 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 buying an additional 62 shares in the last quarter. Finally, VeraBank N.A. increased its holdings in shares of Zoetis by 4.1% during the fourth quarter. VeraBank N.A. now owns 1,562 shares of the company’s stock worth $254,000 after buying an additional 62 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Down 4.5 %

The firm’s fifty day moving average price is $168.89 and its 200-day moving average price is $178.98. The company has a market capitalization of $71.08 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 2.77 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Sell-side analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued 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 1.27%. Zoetis’s payout ratio is 37.59%.

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.