Zoetis Inc. (NYSE:ZTS) Shares Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. raised its stake in Zoetis Inc. (NYSE:ZTS) by 165.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 274,081 shares of the company’s stock after purchasing an additional 170,805 shares during the quarter. Bridges Investment Management Inc. owned about 0.06% of Zoetis worth $47,515,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ZTS. Webster Bank N. A. lifted its holdings in shares of Zoetis by 89.1% during 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 in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Zoetis during the 4th quarter valued at $40,000. LRI Investments LLC acquired a new position in shares of Zoetis during the 1st quarter valued at $43,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Zoetis by 60.7% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 270 shares of the company’s stock valued at $46,000 after acquiring an additional 102 shares in the last quarter. Finally, Central Valley Advisors LLC acquired a new position in shares of Zoetis during the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Zoetis Price Performance

Shares of NYSE:ZTS opened at $193.24 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The firm’s 50 day moving average is $184.42 and its two-hundred day moving average is $174.44. The firm has a market capitalization of $88.17 billion, a P/E ratio of 37.23, a PEG ratio of 2.98 and a beta of 0.88. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. Zoetis’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.41 EPS. Analysts anticipate that Zoetis Inc. will post 5.84 earnings per share for the current year.

Zoetis 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.