Zoetis Inc. (NYSE:ZTS) shares dropped 2.5% during mid-day trading on Monday . The stock traded as low as $51.11 and last traded at $51.22, with a volume of 5,039,517 shares changing hands. The stock had previously closed at $52.54.

ZTS has been the topic of several analyst reports. Zacks Investment Research raised Zoetis from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Monday, May 9th. Jefferies Group reaffirmed a “buy” rating on shares of Zoetis in a research report on Sunday, May 8th. Stifel Nicolaus initiated coverage on Zoetis in a research report on Tuesday, May 31st. They set a “buy” rating and a $58.00 target price on the stock. Guggenheim reaffirmed a “positive” rating on shares of Zoetis in a research report on Monday. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Zoetis in a research report on Sunday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $54.63.

The company’s 50-day moving average price is $50.34 and its 200 day moving average price is $46.44. The stock has a market cap of $25.36 billion and a PE ratio of 39.90.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. During the same period last year, the business earned $0.43 EPS. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts forecast that Zoetis Inc. will post $1.90 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors recently bought and sold shares of ZTS. Calvert Investment Management Inc. raised its position in Zoetis by 24.8% in the fourth quarter. Calvert Investment Management Inc. now owns 28,411 shares of the company’s stock worth $1,361,000 after buying an additional 5,639 shares during the period. KBC Group NV raised its position in Zoetis by 19.5% in the fourth quarter. KBC Group NV now owns 226,507 shares of the company’s stock worth $10,854,000 after buying an additional 37,018 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Zoetis by 2.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,491,364 shares of the company’s stock worth $71,467,000 after buying an additional 31,045 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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