Rhumbline Advisers raised its stake in Zoetis Inc. (NYSE:ZTS) by 2.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,065,495 shares of the company’s stock after buying an additional 25,712 shares during the period. Rhumbline Advisers owned about 0.22% of Zoetis worth $66,466,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. CGOV Asset Management boosted its stake in shares of Zoetis by 2.7% in the first quarter. CGOV Asset Management now owns 169,605 shares of the company’s stock valued at $12,059,000 after buying an additional 4,405 shares during the period. Doyle Wealth Management acquired a new stake in shares of Zoetis during the first quarter valued at $3,521,000. Fox Run Management L.L.C. acquired a new stake in shares of Zoetis during the first quarter valued at $619,000. Eastern Bank boosted its stake in shares of Zoetis by 50.0% in the first quarter. Eastern Bank now owns 6,000 shares of the company’s stock valued at $320,000 after buying an additional 2,000 shares during the period. Finally, Baldwin Brothers Inc. MA acquired a new stake in shares of Zoetis during the first quarter valued at $2,373,000. Institutional investors and hedge funds own 94.51% of the company’s stock.
Shares of Zoetis Inc. (ZTS) opened at 59.74 on Friday. Zoetis Inc. has a one year low of $46.86 and a one year high of $63.85. The company has a market capitalization of $29.22 billion, a price-to-earnings ratio of 33.77 and a beta of 1.02. The company’s 50 day moving average is $62.30 and its 200 day moving average is $57.96.
Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. Equities research analysts predict that Zoetis Inc. will post $2.34 earnings per share for the current year.
Several brokerages have weighed in on ZTS. Cowen and Company set a $70.00 price objective on shares of Zoetis and gave the stock a “buy” rating in a research note on Monday, July 17th. Deutsche Bank AG reiterated a “buy” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Zoetis in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of Zoetis from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, June 20th. Hilliard Lyons began coverage on shares of Zoetis in a research note on Tuesday, June 20th. They issued a “buy” rating and a $77.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $65.00 price objective on shares of Zoetis in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $64.78.
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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