Zoetis (NYSE:ZTS) Shares Up 2.5%

Zoetis Inc. (NYSE:ZTS) shot up 2.5% during mid-day trading on Friday . The stock traded as high as $158.06 and last traded at $157.21. 1,519,755 shares were traded during mid-day trading, a decline of 51% from the average session volume of 3,071,415 shares. The stock had previously closed at $153.36.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZTS. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group raised their target price on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Barclays lowered their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus lowered their target price on Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zoetis presently has a consensus rating of “Buy” and a consensus target price of $218.00.

Zoetis Trading Up 3.3 %

The company has a market capitalization of $72.45 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 2.34 and a beta of 0.85. The firm has a 50-day moving average price of $171.79 and a 200-day moving average price of $179.31. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business posted $1.15 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Zoetis Inc. will post 5.79 EPS for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, April 18th. Zoetis’s payout ratio is 34.12%.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the transaction, the executive vice president now directly owns 14,800 shares in the company, valued at approximately $2,237,316. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 2,209 shares of company stock worth $371,293 in the last three months. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zoetis

A number of hedge funds have recently modified their holdings of ZTS. Blue Bell Private Wealth Management LLC boosted its position in shares of Zoetis by 222.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after buying an additional 89 shares during the period. Webster Bank N. A. boosted its position in shares of Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the period. Independence Bank of Kentucky boosted its position in shares of Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after buying an additional 130 shares during the period. Private Wealth Management Group LLC acquired a new stake in shares of Zoetis in the fourth quarter worth $33,000. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of Zoetis in the third quarter worth $35,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company 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.