On September 19, 2023, it was reported that Buckley Wealth Management LLC acquired a new stake in Zoetis Inc. during the second quarter of the year. According to a recent 13F filing with the Securities and Exchange Commission (SEC), the fund purchased 1,237 shares of Zoetis stock, which amounted to approximately $213,000.
Zoetis, listed on the New York Stock Exchange under the ticker symbol ZTS, recently released its quarterly earnings data on August 8th. The company reported earnings per share (EPS) of $1.41 for the quarter, surpassing analysts’ consensus estimate of $1.31 by $0.10. Zoetis generated revenue of $2.18 billion during the quarter, slightly higher than analyst predictions of $2.16 billion.
With a net margin of 26.92% and a return on equity of 52.02%, Zoetis continues to demonstrate its strong financial performance. This was further evident as the firm’s revenue increased by 3.8% compared to the same quarter in the previous year when it reported an EPS of $1.20.
Various research reports have been published regarding Zoetis’ stock performance and market outlook. One notable report came from StockNews.com, which upgraded Zoetis from a “buy” rating to a “strong-buy” rating on September 14th. In addition, HSBC initiated coverage on Zoetis on September 6th and gave it a “buy” rating with a target price set at $230.
Other investment firms have shown optimism towards Zoetis as well. Piper Sandler raised their price objective for the stock from $210 to $220 and rated it as “overweight” in an August 14th report. The Goldman Sachs Group also expressed positive sentiment by increasing their price target for Zoetis shares from $204 to $213 and giving the stock a “buy” rating on August 9th.
Furthermore, Stifel Nicolaus reaffirmed its “buy” rating on Zoetis shares and set a target price of $205 in their September 12th research note. In total, nine investment analysts have rated the stock as a buy, while one has given it a strong buy rating. Based on data from Bloomberg.com, the average rating for Zoetis is “Buy,” with a consensus price target of $225.13.
As we approach the end of this fiscal year, research analysts predict that Zoetis Inc. will post earnings per share of 5.42 for the current fiscal year. With its impressive financials and positive market outlook according to industry experts, Zoetis continues to be an intriguing investment opportunity for those following the pharmaceutical and veterinary sectors.
Updated on: 19/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
12:00 AM (UTC)
Date:20 September, 2023
|Analyst / firm||Rating|
Robert W. Baird
Investors and Executives Make Notable Moves in Zoetis as Company Continues to Navigate the Market
In recent news, several significant investors have made notable changes to their positions in the company Zoetis. Fairfield Bush & CO. gained a new stake in Zoetis during the first quarter, valued at $134,000. Similarly, Sequoia Financial Advisors LLC increased its position in Zoetis by 5.3% during the same period and now owns 4,166 shares of the company’s stock worth $786,000 after acquiring an additional 211 shares. Candriam Luxembourg S.C.A. also raised its stake in Zoetis by 3.9% in the first quarter, now owning 51,581 shares worth $9,727,000 after purchasing an additional 1,914 shares.
Additionally, Covestor Ltd saw a significant increase of 102.8% in its position in Zoetis during the first quarter. Covestor Ltd now owns 724 shares of the company’s stock worth $137,000 after adding an additional 367 shares to its holdings. Finally, Merit Financial Group LLC witnessed a surge of 92.8% in its holdings of Zoetis stock during the first quarter. Merit Financial Group now owns 2,342 shares valued at $442,000 after acquiring an extra 1,127 shares.
These institutional investors collectively own approximately 89.47% of Zoetis’ stock.
In other news related to Zoetis, EVP Heidi C. Chen sold 9,905 shares of the company’s stock on September 15th for an average price of $180.15 per share. This transaction amounted to a total value of $1,784,385.75. Following this sale, Chen now possesses direct ownership of 27,478 shares valued at $4,950.,1610 The details of this transaction were disclosed in a filing with the SEC and can be accessed through their website.
Another executive, EVP Roxanne Lagano, sold 923 shares of Zoetis stock on September 1st for an average price of $192.97 per share. The total value of this transaction was $178,111.31. Lagano now owns 25,434 shares valued at $4,907,998.98 following the sale.
It is worth noting that over the last quarter, insiders have collectively sold 25,930 shares of Zoetis stock with a total value of $4,691,799. Insider ownership accounts for a mere 0.15% of the company’s stock.
On Tuesday, shares of Zoetis (NYSE: ZTS) opened at $179.65. The company has a fifty-day moving average price of $183.65 and a two-hundred-day moving average price of $175.28. Zoetis Inc., with a market capitalization of $82.70 billion and a PE ratio of 37.74, has seen a year-low trading at $124.15 and a year-high at $194.99.
With these recent developments in mind, it is crucial for investors to stay informed about the activities surrounding Zoetis as it continues to navigate within the market.