Zoetis Inc. (ZTS) Hits New 12-Month High at $50.54
Zoetis Inc. (NYSE:ZTS)’s share price reached a new 52-week high on Friday . The stock traded as high as $50.54 and last traded at $50.40, with a volume of 1,615,163 shares changing hands. The stock had previously closed at $50.06.
ZTS has been the topic of several research reports. Goldman Sachs Group Inc. downgraded Zoetis from a “neutral” rating to a “sell” rating and raised their target price for the company from $46.00 to $48.00 in a research report on Friday, May 6th. Stifel Nicolaus began coverage on Zoetis in a research report on Tuesday, May 31st. They set a “buy” rating and a $58.00 price objective on the stock. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Monday, May 9th. Guggenheim reiterated a “buy” rating and set a $60.00 price objective on shares of Zoetis in a research report on Monday, July 18th. Finally, Jefferies Group reiterated a “buy” rating and set a $58.00 price objective (up previously from $57.00) on shares of Zoetis in a research report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Zoetis presently has a consensus rating of “Buy” and an average price target of $54.68.
The firm’s 50 day moving average price is $48.20 and its 200 day moving average price is $45.41. The stock has a market capitalization of $25.04 billion and a price-to-earnings ratio of 66.58.
Zoetis (NYSE:ZTS) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. During the same quarter in the prior year, the company earned $0.41 EPS. The firm earned $1.20 billion during the quarter, compared to analyst estimates of $1.10 billion. The business’s revenue was up 5.4% on a year-over-year basis. Equities analysts predict that Zoetis Inc. will post $1.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Thursday, June 30th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Tuesday, June 28th.
In related news, Director Pershing Square Capital Manage sold 16,850,000 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $46.55, for a total value of $784,367,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of large investors recently made changes to their positions in ZTS. Baker Chad R bought a new stake in shares of Zoetis during the fourth quarter worth approximately $1,189,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Zoetis by 5.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,129 shares of the company’s stock worth $1,492,000 after buying an additional 1,636 shares during the period. Greenwood Capital Associates LLC bought a new stake in shares of Zoetis during the fourth quarter worth approximately $1,532,000. Twin Capital Management Inc. bought a new stake in shares of Zoetis during the fourth quarter worth approximately $1,590,000. Finally, Advantus Capital Management Inc boosted its stake in shares of Zoetis by 2.6% in the fourth quarter. Advantus Capital Management Inc now owns 44,257 shares of the company’s stock worth $2,121,000 after buying an additional 1,110 shares during the period.
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 diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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