Morgan Stanley cut shares of Zoetis (NYSE:ZTS) from an overweight rating to an equal weight rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have $70.00 price objective on the stock. The analysts noted that the move was a valuation call.
A number of other equities analysts have also recently commented on ZTS. UBS reaffirmed a neutral rating on shares of Zoetis in a report on Friday, November 24th. Cantor Fitzgerald set a $80.00 target price on shares of Zoetis and gave the company a buy rating in a report on Tuesday, December 12th. Craig Hallum reaffirmed a buy rating and issued a $85.00 target price (up from $77.00) on shares of Zoetis in a report on Tuesday, January 2nd. Citigroup upgraded shares of Zoetis from a neutral rating to a buy rating and set a $85.00 price objective on the stock in a research report on Thursday, January 4th. Finally, Zacks Investment Research lowered shares of Zoetis from a buy rating to a hold rating in a research report on Saturday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Zoetis currently has a consensus rating of Buy and an average target price of $79.72.
Zoetis stock opened at $84.10 on Monday. The company has a market cap of $40,348.84, a price-to-earnings ratio of 48.06, a PEG ratio of 1.87 and a beta of 0.97. Zoetis has a 1-year low of $52.25 and a 1-year high of $85.73. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.85 and a quick ratio of 2.55.
Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, February 15th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Zoetis had a net margin of 16.28% and a return on equity of 65.96%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. analysts predict that Zoetis will post 3.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, April 20th will be given a dividend of $0.126 per share. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $0.50 annualized dividend and a dividend yield of 0.60%. Zoetis’s payout ratio is currently 28.57%.
In other Zoetis news, EVP Roxanne Lagano sold 35,663 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $81.02, for a total transaction of $2,889,416.26. Following the sale, the executive vice president now directly owns 49,919 shares in the company, valued at approximately $4,044,437.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heidi C. Chen sold 37,453 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $81.02, for a total transaction of $3,034,442.06. The disclosure for this sale can be found here. Insiders have sold a total of 112,952 shares of company stock worth $9,219,843 over the last 90 days. Insiders own 0.31% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Chemical Bank purchased a new stake in shares of Zoetis during the 4th quarter worth $350,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Zoetis by 27.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,881 shares of the company’s stock worth $1,288,000 after purchasing an additional 3,904 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Zoetis by 9.8% during the 4th quarter. Xact Kapitalforvaltning AB now owns 70,114 shares of the company’s stock worth $5,051,000 after purchasing an additional 6,253 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Zoetis by 31.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 134,904 shares of the company’s stock worth $9,719,000 after purchasing an additional 32,149 shares in the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA boosted its position in shares of Zoetis by 106.2% during the 4th quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 25,090 shares of the company’s stock worth $1,807,000 after purchasing an additional 12,925 shares in the last quarter. Institutional investors own 92.29% of the company’s stock.
Zoetis Company Profile
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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