Jefferies Group Reiterates Buy Rating for Zoetis Inc. (ZTS)
Zoetis Inc. (NYSE:ZTS)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a report issued on Sunday. They presently have a $63.00 price objective on the stock. Jefferies Group’s price objective suggests a potential upside of 25.55% from the stock’s previous close.
Other research analysts have also issued research reports about the company. Argus boosted their price target on Zoetis from $54.00 to $58.00 and gave the stock a “below average” rating in a research report on Friday, September 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 price target on shares of Zoetis in a research report on Wednesday. Bank of America Corp. started coverage on Zoetis in a report on Thursday, September 29th. They set a “buy” rating and a $60.00 target price on the stock. Guggenheim reissued a “buy” rating and set a $60.00 target price on shares of Zoetis in a report on Monday, July 18th. Finally, Barclays PLC boosted their target price on Zoetis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.50.
Zoetis (NYSE:ZTS) opened at 50.18 on Friday. Zoetis has a 1-year low of $38.26 and a 1-year high of $53.14. The firm’s 50-day moving average price is $51.25 and its 200 day moving average price is $49.01. The firm has a market capitalization of $24.84 billion, a price-to-earnings ratio of 39.08 and a beta of 1.01.
Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoetis had a return on equity of 77.58% and a net margin of 13.15%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, analysts predict that Zoetis will post $1.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Tuesday, November 1st. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.76%. Zoetis’s payout ratio is 29.69%.
In related news, Director Michael B. Mccallister bought 2,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was purchased at an average cost of $51.34 per share, for a total transaction of $102,680.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heidi C. Chen sold 32,097 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $50.98, for a total value of $1,636,305.06. Following the sale, the insider now owns 46,060 shares of the company’s stock, valued at $2,348,138.80. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc increased its stake in shares of Zoetis by 9.5% in the second quarter. NEXT Financial Group Inc now owns 2,136 shares of the company’s stock valued at $101,000 after buying an additional 186 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA increased its stake in shares of Zoetis by 113.4% in the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 2,446 shares of the company’s stock valued at $116,000 after buying an additional 1,300 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Zoetis during the first quarter valued at $118,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Zoetis by 22.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,566 shares of the company’s stock valued at $121,000 after buying an additional 476 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its stake in shares of Zoetis by 4.4% in the second quarter. Glenmede Trust Co. NA now owns 2,950 shares of the company’s stock valued at $139,000 after buying an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 93.12% of the company’s stock.
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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