Zoetis (NYSE:ZTS) Given New $130.00 Price Target at SunTrust Banks

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Zoetis (NYSE:ZTS) had its price objective hoisted by SunTrust Banks from $120.00 to $130.00 in a research note released on Tuesday, BenzingaRatingsTable reports. SunTrust Banks currently has a hold rating on the stock. SunTrust Banks also issued estimates for Zoetis’ Q3 2019 earnings at $0.91 EPS, FY2019 earnings at $3.58 EPS, FY2020 earnings at $3.95 EPS, FY2021 earnings at $4.39 EPS, FY2022 earnings at $4.86 EPS and FY2023 earnings at $5.38 EPS.

A number of other equities analysts have also recently commented on the company. Guggenheim initiated coverage on Zoetis in a report on Thursday, May 23rd. They issued a buy rating and a $114.00 target price for the company. Craig Hallum lifted their target price on Zoetis from $132.00 to $138.00 and gave the stock a buy rating in a report on Wednesday, August 7th. BMO Capital Markets lifted their target price on Zoetis from $101.00 to $105.00 and gave the stock a market perform rating in a report on Thursday, May 9th. Barclays lifted their target price on Zoetis from $120.00 to $135.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research cut Zoetis from a buy rating to a hold rating in a report on Monday, May 6th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $115.13.

NYSE ZTS opened at $125.37 on Tuesday. The stock has a market capitalization of $59.87 billion, a PE ratio of 40.05, a P/E/G ratio of 3.15 and a beta of 0.92. The business has a 50 day simple moving average of $116.54 and a two-hundred day simple moving average of $104.33. The company has a debt-to-equity ratio of 2.74, a current ratio of 4.17 and a quick ratio of 2.87. Zoetis has a 1-year low of $78.90 and a 1-year high of $125.88.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.08. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Zoetis had a return on equity of 72.86% and a net margin of 22.74%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. On average, analysts anticipate that Zoetis will post 3.57 EPS for the current fiscal year.

In related news, EVP Clinton A. Jr. Lewis sold 6,123 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $109.79, for a total transaction of $672,244.17. Following the completion of the sale, the executive vice president now directly owns 49,369 shares of the company’s stock, valued at approximately $5,420,222.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Willie M. Reed sold 1,900 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $110.58, for a total value of $210,102.00. Following the sale, the director now directly owns 2,816 shares of the company’s stock, valued at $311,393.28. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock valued at $4,520,953 over the last three months. 0.29% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Zoetis during the 1st quarter valued at $25,000. Glassman Wealth Services raised its position in Zoetis by 306.5% during the 1st quarter. Glassman Wealth Services now owns 252 shares of the company’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. JJJ Advisors Inc. bought a new stake in Zoetis during the 2nd quarter valued at $25,000. Private Ocean LLC bought a new stake in Zoetis during the 1st quarter valued at $27,000. Finally, Prestige Wealth Management Group LLC bought a new stake in Zoetis during the 2nd quarter valued at $27,000. 90.08% of the stock is owned by institutional investors and hedge funds.

About Zoetis

Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.

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Analyst Recommendations for Zoetis (NYSE:ZTS)

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