Zoetis Inc. (ZTS) Shares Gap Up to $48.87
Zoetis Inc. (NYSE:ZTS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $48.85, but opened at $48.87. Zoetis shares last traded at $49.05, with a volume of 981,536 shares changing hands.
A number of brokerages have recently commented on ZTS. Jefferies Group reaffirmed a “buy” rating on shares of Zoetis in a report on Sunday, May 8th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Zoetis in a report on Wednesday, May 4th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Zoetis in a report on Sunday, May 22nd. Zacks Investment Research raised shares of Zoetis from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Wednesday, June 15th. Finally, Stifel Nicolaus began coverage on shares of Zoetis in a research report on Tuesday, May 31st. They issued a “buy” rating and a $58.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Zoetis currently has an average rating of “Buy” and an average target price of $55.38.
The stock has a market capitalization of $24.41 billion and a price-to-earnings ratio of 64.89. The stock has a 50-day moving average of $47.53 and a 200-day moving average of $45.18.
Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. During the same period in the prior year, the company posted $0.41 earnings per share. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.10 billion. The business’s revenue was up 5.4% on a year-over-year basis. On average, analysts forecast that Zoetis Inc. will post $1.87 earnings per share 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 given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend 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 transaction of $784,367,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Other large investors recently modified their holdings of the company. Foresters Investment Management Company Inc. raised its stake in shares of Zoetis by 14.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 373,734 shares of the company’s stock valued at $17,909,000 after buying an additional 46,800 shares in the last quarter. Greenwood Capital Associates LLC bought a new stake in shares of Zoetis during the fourth quarter valued at $1,532,000. Pittenger & Anderson Inc. raised its stake in shares of Zoetis by 5.1% in the fourth quarter. Pittenger & Anderson Inc. now owns 53,605 shares of the company’s stock valued at $2,569,000 after buying an additional 2,600 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Zoetis by 24.9% in the fourth quarter. Marshall Wace LLP now owns 9,390,614 shares of the company’s stock valued at $449,999,000 after buying an additional 1,874,617 shares in the last quarter. Finally, Sandhill Capital Partners LLC raised its stake in shares of Zoetis by 0.4% in the fourth quarter. Sandhill Capital Partners LLC now owns 309,672 shares of the company’s stock valued at $14,839,000 after buying an additional 1,311 shares in the last quarter.
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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