Norway Savings Bank Raises Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Norway Savings Bank lifted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 22.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,019 shares of the company’s stock after purchasing an additional 745 shares during the quarter. Norway Savings Bank’s holdings in Zoetis were worth $692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Enterprise Financial Services Corp grew its holdings in shares of Zoetis by 2.3% during the first quarter. Enterprise Financial Services Corp now owns 2,446 shares of the company’s stock worth $407,000 after purchasing an additional 55 shares in the last quarter. M Holdings Securities Inc. boosted its stake in Zoetis by 2.2% in the fourth quarter. M Holdings Securities Inc. now owns 2,931 shares of the company’s stock worth $430,000 after buying an additional 64 shares in the last quarter. Lake Street Financial LLC boosted its stake in Zoetis by 2.4% in the first quarter. Lake Street Financial LLC now owns 2,733 shares of the company’s stock worth $455,000 after buying an additional 64 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Zoetis by 21.2% in the first quarter. Newbridge Financial Services Group Inc. now owns 366 shares of the company’s stock worth $61,000 after buying an additional 64 shares in the last quarter. Finally, RB Capital Management LLC boosted its stake in Zoetis by 3.7% in the first quarter. RB Capital Management LLC now owns 1,805 shares of the company’s stock worth $301,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 89.47% of the company’s stock.

Insiders Place Their Bets

In other Zoetis news, EVP Robert J. Polzer sold 1,179 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 2,353 shares in the company, valued at $446,928.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Zoetis news, EVP Robert J. Polzer sold 1,179 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 2,353 shares in the company, valued at $446,928.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Roxanne Lagano sold 923 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $192.97, for a total value of $178,111.31. Following the completion of the sale, the executive vice president now directly owns 25,434 shares in the company, valued at $4,907,998.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,102 shares of company stock worth $2,741,661. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ZTS has been the subject of several research reports. The Goldman Sachs Group upped their target price on Zoetis from $204.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Piper Sandler upped their target price on Zoetis from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. StockNews.com raised Zoetis from a “buy” rating to a “strong-buy” rating in a research note on Thursday. HSBC initiated coverage on Zoetis in a research report on Wednesday, September 6th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 price objective on shares of Zoetis in a research report on Tuesday, September 12th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $225.13.

Zoetis Trading Down 1.4 %

Shares of Zoetis stock traded down $2.49 during midday trading on Friday, reaching $180.25. 3,262,647 shares of the company’s stock traded hands, compared to its average volume of 1,421,566. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.97 and a current ratio of 3.50. The company has a market cap of $82.97 billion, a PE ratio of 37.87, a price-to-earnings-growth ratio of 2.94 and a beta of 0.78. The stock has a 50 day moving average of $183.65 and a 200-day moving average of $175.23. Zoetis Inc. has a 12 month low of $124.15 and a 12 month high of $194.99.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data 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. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.16 billion. Zoetis had a return on equity of 52.02% and a net margin of 26.92%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. As a group, equities 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.