Heritage Wealth Management Inc. Invests $624,000 in Zoetis Inc. (NYSE:ZTS)

Heritage Wealth Management Inc. bought a new stake in shares of Zoetis Inc. (NYSE:ZTS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,565 shares of the company’s stock, valued at approximately $624,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Webster Bank N. A. lifted its position 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 during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Zoetis in the 4th quarter valued at $40,000. Quarry LP boosted its position in shares of Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares during the period. LRI Investments LLC acquired a new stake in Zoetis during the 1st quarter worth about $43,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Zoetis during the 4th quarter worth about $51,000. 92.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research lifted their price target on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus increased their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $220.38.

Zoetis Price Performance

ZTS opened at $192.49 on Thursday. The stock has a fifty day moving average price of $186.89 and a 200 day moving average price of $175.21. 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 Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The stock has a market cap of $87.83 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.99 and a beta of 0.88.

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