Zoetis Inc (NYSE:ZTS) Sees Significant Growth in Short Interest

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Zoetis Inc (NYSE:ZTS) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 4,326,600 shares, a growth of 9.4% from the July 31st total of 3,953,400 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 2,010,000 shares, the days-to-cover ratio is presently 2.2 days.

Shares of NYSE:ZTS opened at $121.02 on Monday. The business’s 50 day simple moving average is $122.83 and its two-hundred day simple moving average is $108.92. The firm has a market cap of $58.11 billion, a P/E ratio of 38.66, a PEG ratio of 3.07 and a beta of 0.87. The company has a debt-to-equity ratio of 2.74, a quick ratio of 2.87 and a current ratio of 4.17. Zoetis has a 52-week low of $78.90 and a 52-week high of $130.08.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. Zoetis had a return on equity of 72.86% and a net margin of 22.74%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the company earned $0.77 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Zoetis will post 3.57 earnings per share for the current fiscal year.

Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price (up previously from $116.00) on shares of Zoetis in a research note on Wednesday, June 12th. Credit Suisse Group reaffirmed a “buy” rating and set a $130.00 target price on shares of Zoetis in a research note on Wednesday, September 11th. SunTrust Banks raised their target price on Zoetis from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Stifel Nicolaus set a $140.00 target price on Zoetis and gave the stock a “buy” rating in a research note on Friday. Finally, Craig Hallum raised their target price on Zoetis from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Zoetis has an average rating of “Buy” and an average price target of $120.94.

In other Zoetis news, insider Clinton A. Jr. Lewis sold 6,123 shares of Zoetis stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $113.09, for a total transaction of $692,450.07. Following the transaction, the insider now directly owns 46,812 shares of the company’s stock, valued at approximately $5,293,969.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kristin C. Peck sold 11,500 shares of Zoetis stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $123.22, for a total value of $1,417,030.00. Following the transaction, the executive vice president now directly owns 48,877 shares in the company, valued at $6,022,623.94. The disclosure for this sale can be found here. Insiders have sold a total of 28,209 shares of company stock worth $3,428,025 over the last ninety days. Company insiders own 0.29% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ZTS. Geode Capital Management LLC increased its position in shares of Zoetis by 14.4% during the fourth quarter. Geode Capital Management LLC now owns 6,227,976 shares of the company’s stock valued at $531,801,000 after acquiring an additional 785,088 shares during the last quarter. Cornerstone Advisors Inc. increased its position in Zoetis by 11.8% in the first quarter. Cornerstone Advisors Inc. now owns 1,099 shares of the company’s stock worth $111,000 after buying an additional 116 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Zoetis by 3.9% in the first quarter. Stratos Wealth Partners LTD. now owns 38,594 shares of the company’s stock worth $3,885,000 after buying an additional 1,461 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Zoetis by 6.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,990 shares of the company’s stock worth $2,818,000 after buying an additional 1,779 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Zoetis in the first quarter worth $279,000. 90.25% of the stock is owned by institutional investors.

Zoetis Company Profile

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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