Piper Sandler Cuts Zoetis (NYSE:ZTS) Price Target to $210.00

Zoetis (NYSE:ZTS – Get Rating) had its price objective decreased by Piper Sandler from $220.00 to $210.00 in a report issued on Monday morning, The Fly reports.

Other analysts have also recently issued reports about the company. StockNews.com initiated coverage on Zoetis in a research note on Thursday, March 16th. They issued a buy rating on the stock. Barclays raised their target price on Zoetis from $250.00 to $260.00 and gave the stock an overweight rating in a research note on Tuesday, February 21st. Finally, Bank Of America (Bofa) raised their target price on Zoetis from $180.00 to $200.00 and gave the stock a buy rating in a research note on Tuesday, April 11th. Nine investment 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 target price of $221.14.

Zoetis Trading Down 0.7 %

NYSE ZTS opened at $184.87 on Monday. The company has a market capitalization of $85.43 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 3.02 and a beta of 0.77. The stock’s 50-day simple moving average is $170.13 and its two-hundred day simple moving average is $159.91. The company has a quick ratio of 1.94, a current ratio of 3.27 and a debt-to-equity ratio of 1.46. Zoetis has a twelve month low of $124.15 and a twelve month high of $187.82.

Zoetis (NYSE:ZTS – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.27 by $0.04. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.02 billion. Zoetis had a return on equity of 50.26% and a net margin of 25.59%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. Research analysts forecast that Zoetis will post 5.39 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, April 21st will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $1.50 annualized dividend and a yield of 0.81%. Zoetis’s payout ratio is 33.86%.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 4,338 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $175.94, for a total value of $763,227.72. Following the sale, the executive vice president now directly owns 26,357 shares of the company’s stock, valued at approximately $4,637,250.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Zoetis

Hedge funds have recently added to or reduced their stakes in the company. Psagot Value Holdings Ltd. Israel purchased a new position in Zoetis in the 3rd quarter worth approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in Zoetis by 430.8% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock worth $26,000 after acquiring an additional 112 shares during the last quarter. Worth Asset Management LLC purchased a new stake in Zoetis during the 1st quarter valued at $26,000. EWG Elevate Inc. purchased a new stake in Zoetis during the 4th quarter valued at $27,000. Finally, IAG Wealth Partners LLC purchased a new stake in Zoetis during the 4th quarter valued at $29,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

About Zoetis

(Get Rating)

Zoetis, Inc engages in the discovery, development, manufacture, and commercialization of medicines, vaccines, diagnostic products and services, biodevices, genetic tests, and precision animal health technology. The firm operates through the United States and International geographical segments. The United States segment is involved in U.S.