DnB Asset Management AS Purchases 23,028 Shares of Zoetis Inc. (NYSE:ZTS)

DnB Asset Management AS lifted its holdings in Zoetis Inc. (NYSE:ZTS) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,361 shares of the company’s stock after purchasing an additional 23,028 shares during the quarter. DnB Asset Management AS owned 0.05% of Zoetis worth $40,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Aspire Private Capital LLC purchased a new stake in shares of Zoetis during the 1st quarter valued at about $15,019,213,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Zoetis by 430.8% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares during the period. VitalStone Financial LLC bought a new stake in Zoetis in the 1st quarter worth approximately $37,000. Evermay Wealth Management LLC raised its stake in Zoetis by 439.3% during the 1st quarter. Evermay Wealth Management LLC now owns 151 shares of the company’s stock valued at $25,000 after buying an additional 123 shares during the last quarter. Finally, Worth Asset Management LLC bought a new position in shares of Zoetis during the 1st quarter valued at $26,000. 89.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $192.97, for a total value of $178,111.31. Following the transaction, the executive vice president now owns 25,434 shares of the company’s stock, valued at $4,907,998.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $192.97, for a total value of $178,111.31. Following the sale, the executive vice president now directly owns 25,434 shares of the company’s stock, valued at $4,907,998.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert J. Polzer sold 1,179 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $189.94, for a total value of $223,939.26. Following the completion of the sale, the executive vice president now owns 2,353 shares in the company, valued at $446,928.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,102 shares of company stock valued at $2,741,661. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ZTS. Piper Sandler lifted their price objective on Zoetis from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 price objective on shares of Zoetis in a research note on Tuesday. The Goldman Sachs Group raised their price objective on shares of Zoetis from $204.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, HSBC began coverage on shares of Zoetis in a report on Wednesday, September 6th. They set a “buy” rating and a $230.00 target price for the company. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $225.13.

Zoetis Stock Performance

NYSE ZTS traded down $0.77 on Thursday, reaching $181.23. 485,257 shares of the stock were exchanged, compared to its average volume of 1,970,217. The company’s 50-day simple moving average is $182.85 and its two-hundred day simple moving average is $174.97. The company has a current ratio of 3.50, a quick ratio of 1.97 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $83.42 billion, a PE ratio of 38.24, a PEG ratio of 3.02 and a beta of 0.78. Zoetis Inc. has a one year low of $124.15 and a one year high of $194.99.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. Zoetis had a return on equity of 52.02% and a net margin of 26.92%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business posted $1.20 EPS. Zoetis’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that Zoetis Inc. will post 5.42 EPS for the current fiscal year.

Zoetis 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 others; and companion animals comprising dogs, cats, and horses.