NewEdge Advisors LLC Increases Stock Position in Zoetis Inc. (NYSE:ZTS)

NewEdge Advisors LLC raised its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 32.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,192 shares of the company’s stock after purchasing an additional 8,688 shares during the period. NewEdge Advisors LLC’s holdings in Zoetis were worth $6,101,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Zoetis by 26.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 278,016 shares of the company’s stock valued at $48,201,000 after acquiring an additional 57,902 shares during the period. Magnolia Capital Advisors LLC bought a new position in shares of Zoetis during the 2nd quarter valued at approximately $4,445,000. Creative Planning increased its holdings in Zoetis by 37.5% in the 2nd quarter. Creative Planning now owns 83,231 shares of the company’s stock worth $14,429,000 after acquiring an additional 22,683 shares in the last quarter. Copperwynd Financial LLC raised its stake in Zoetis by 33.8% during the 2nd quarter. Copperwynd Financial LLC now owns 5,005 shares of the company’s stock worth $901,000 after acquiring an additional 1,263 shares during the period. Finally, Algert Global LLC lifted its holdings in Zoetis by 29.5% during the second quarter. Algert Global LLC now owns 1,924 shares of the company’s stock valued at $334,000 after purchasing an additional 438 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of analyst reports. BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Stifel Nicolaus lifted their target price on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $220.38.

Zoetis Price Performance

Zoetis stock opened at $194.49 on Wednesday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The firm has a 50-day moving average price of $186.64 and a 200-day moving average price of $175.09. The firm has a market capitalization of $88.74 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 2.99 and a beta of 0.88.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Zoetis Inc. will post 5.84 EPS for the current year.

Zoetis Profile

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.