Bluestein R H & Co. purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,175 shares of the company’s stock, valued at approximately $635,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Zoetis by 3.9% during the 2nd quarter. BlackRock Inc. now owns 37,495,299 shares of the company’s stock worth $2,338,957,000 after purchasing an additional 1,412,829 shares during the period. Vanguard Group Inc. boosted its holdings in Zoetis by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 33,654,686 shares of the company’s stock valued at $2,099,379,000 after acquiring an additional 910,265 shares during the period. State Street Corp boosted its holdings in Zoetis by 4.9% during the 1st quarter. State Street Corp now owns 21,256,557 shares of the company’s stock valued at $1,134,453,000 after acquiring an additional 986,680 shares during the period. Morgan Stanley boosted its holdings in Zoetis by 182.5% during the 1st quarter. Morgan Stanley now owns 14,617,205 shares of the company’s stock valued at $780,119,000 after acquiring an additional 9,442,207 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Zoetis by 55.4% during the 2nd quarter. Alliancebernstein L.P. now owns 10,370,388 shares of the company’s stock valued at $646,905,000 after acquiring an additional 3,695,449 shares during the period. Institutional investors and hedge funds own 93.20% of the company’s stock.
A number of brokerages recently commented on ZTS. BMO Capital Markets cut Zoetis from an “outperform” rating to a “market perform” rating and raised their target price for the company from $64.00 to $65.00 in a report on Tuesday, June 13th. They noted that the move was a valuation call. Cowen and Company set a $70.00 target price on Zoetis and gave the company a “buy” rating in a report on Monday, July 17th. Cantor Fitzgerald set a $75.00 target price on Zoetis and gave the company a “buy” rating in a report on Monday, August 14th. Stifel Nicolaus restated a “buy” rating and set a $65.00 target price on shares of Zoetis in a report on Friday, July 21st. Finally, CL King began coverage on Zoetis in a report on Friday, May 26th. They set a “buy” rating and a $71.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $65.44.
Zoetis Inc. (NYSE ZTS) traded down 0.12% during midday trading on Friday, reaching $64.16. The company’s stock had a trading volume of 1,538,406 shares. The company has a market capitalization of $31.38 billion, a P/E ratio of 36.27 and a beta of 1.02. Zoetis Inc. has a 1-year low of $46.86 and a 1-year high of $65.83. The company has a 50 day moving average of $62.44 and a 200-day moving average of $59.64.
Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Zoetis had a return on equity of 62.49% and a net margin of 17.50%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Zoetis Inc. will post $2.34 earnings per share for the current fiscal year.
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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