Zoetis (NYSE:ZTS) Stock Price Down 0.5% Following Analyst Downgrade

Zoetis Inc. (NYSE:ZTS) shares were down 0.5% on Monday after The Goldman Sachs Group lowered their price target on the stock from $223.00 to $196.00. The Goldman Sachs Group currently has a buy rating on the stock. Zoetis traded as low as $165.26 and last traded at $166.23. Approximately 663,632 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 3,148,278 shares. The stock had previously closed at $167.07.

A number of other research analysts have also weighed in on ZTS. StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Stifel Nicolaus lowered their price objective on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Finally, Barclays lowered their price objective on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $212.38.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the transaction, the executive vice president now directly owns 14,800 shares in the company, valued at $2,237,316. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 2,209 shares of company stock worth $371,293. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Zoetis

Several institutional investors and hedge funds have recently modified their holdings of the stock. Stratos Wealth Advisors LLC bought a new stake in shares of Zoetis in the third quarter valued at about $209,000. Independent Advisor Alliance boosted its position in shares of Zoetis by 9.3% in the third quarter. Independent Advisor Alliance now owns 2,509 shares of the company’s stock valued at $437,000 after acquiring an additional 213 shares during the period. Everhart Financial Group Inc. boosted its position in shares of Zoetis by 10.9% in the third quarter. Everhart Financial Group Inc. now owns 1,407 shares of the company’s stock valued at $245,000 after acquiring an additional 138 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Zoetis by 12.2% in the third quarter. Verdence Capital Advisors LLC now owns 2,791 shares of the company’s stock valued at $486,000 after acquiring an additional 303 shares during the period. Finally, Brighton Jones LLC boosted its position in shares of Zoetis by 9.3% in the third quarter. Brighton Jones LLC now owns 2,783 shares of the company’s stock valued at $484,000 after acquiring an additional 237 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

The stock’s 50-day moving average price is $168.88 and its 200-day moving average price is $178.93. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The company has a market cap of $75.72 billion, a P/E ratio of 32.12, a PEG ratio of 2.62 and a beta of 0.86.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the business posted $1.31 earnings per share. Zoetis’s revenue was up 9.5% compared to the same quarter last year. Equities analysts anticipate that Zoetis Inc. will post 5.77 EPS for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be issued a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.04%. Zoetis’s dividend payout ratio (DPR) is currently 33.33%.

About Zoetis

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.