Zoetis Inc. (NYSE:ZTS) Stake Reduced by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan decreased its stake in Zoetis Inc. (NYSE:ZTS) by 46.0% during the second quarter, Holdings Channel reports. The institutional investor owned 15,900 shares of the company’s stock after selling 13,530 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Zoetis were worth $992,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. raised its position in Zoetis by 4.6% in the first quarter. Assetmark Inc. now owns 1,918 shares of the company’s stock valued at $102,000 after buying an additional 85 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Zoetis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,905 shares of the company’s stock valued at $102,000 after buying an additional 13 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in Zoetis during the first quarter valued at $111,000. Advisory Services Network LLC acquired a new position in Zoetis during the first quarter valued at $112,000. Finally, First Interstate Bank raised its position in Zoetis by 3.5% in the first quarter. First Interstate Bank now owns 2,250 shares of the company’s stock valued at $120,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Zoetis Inc. (NYSE:ZTS) opened at 59.73 on Friday. Zoetis Inc. has a 12 month low of $46.86 and a 12 month high of $63.85. The firm’s 50-day moving average price is $62.20 and its 200-day moving average price is $58.00. The firm has a market cap of $29.21 billion, a P/E ratio of 33.76 and a beta of 1.02.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 8th. The company reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts expect that Zoetis Inc. will post $2.34 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright law. The original version of this article can be viewed at https://www.com-unik.info/2017/08/12/zoetis-inc-nysezts-stake-reduced-by-municipal-employees-retirement-system-of-michigan.html.

Several research analysts have weighed in on ZTS shares. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Wednesday, May 10th. Jefferies Group LLC lifted their target price on Zoetis from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. BMO Capital Markets reiterated a “buy” rating and set a $60.00 target price on shares of Zoetis in a report on Thursday, May 4th. Argus reiterated a “buy” rating and set a $69.00 target price (up from $60.00) on shares of Zoetis in a report on Tuesday, May 30th. Finally, CL King started coverage on Zoetis in a report on Friday, May 26th. They set a “buy” rating and a $71.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.78.

About Zoetis

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.

Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS).

Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

What are top analysts saying about Zoetis Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Zoetis Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit