Intech Investment Management LLC Increases Holdings in Zoetis Inc. (NYSE:ZTS)

Intech Investment Management LLC increased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 7,379.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 173,530 shares of the company’s stock after buying an additional 171,210 shares during the quarter. Intech Investment Management LLC’s holdings in Zoetis were worth $30,083,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. ADV purchased a new position in Zoetis during the fourth quarter worth approximately $2,159,000. Price T Rowe Associates Inc. MD lifted its position in Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after buying an additional 3,244,074 shares in the last quarter. Axiom Investors LLC DE lifted its position in Zoetis by 36.3% during the fourth quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock worth $117,331,000 after buying an additional 158,459 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Zoetis during the first quarter worth approximately $8,831,000. Finally, Franklin Street Advisors Inc. NC raised its position in Zoetis by 4.3% in the first quarter. Franklin Street Advisors Inc. NC now owns 121,024 shares of the company’s stock valued at $20,478,000 after purchasing an additional 5,035 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zoetis Trading Down 1.6 %

ZTS opened at $193.24 on Friday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The stock has a market capitalization 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 debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The business has a fifty day moving average price of $184.42 and a 200 day moving average price of $174.44.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. Sell-side analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current fiscal 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.