Zoetis Inc. (ZTS) Hits New 52-Week High at $50.39
Zoetis Inc. (NYSE:ZTS) reached a new 52-week high during trading on Thursday . The company traded as high as $50.39 and last traded at $50.28, with a volume of 760,038 shares. The stock had previously closed at $50.25.
ZTS has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Zoetis from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Citigroup Inc. cut shares of Zoetis from a “buy” rating to a “neutral” rating and raised their target price for the stock from $46.00 to $50.00 in a research note on Friday, June 10th. They noted that the move was a valuation call. Jefferies Group restated a “buy” rating and set a $58.00 target price (up previously from $57.00) on shares of Zoetis in a research note on Tuesday, June 14th. Guggenheim restated a “buy” rating and set a $60.00 target price on shares of Zoetis in a research note on Monday. Finally, Goldman Sachs Group Inc. cut shares of Zoetis from a “neutral” rating to a “sell” rating and raised their target price for the stock from $46.00 to $48.00 in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $55.38.
The stock has a market capitalization of $24.90 billion and a P/E ratio of 66.21. The company has a 50-day moving average of $47.89 and a 200-day moving average of $45.27.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. The company earned $1.20 billion during the quarter, compared to analyst estimates of $1.10 billion. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, equities research analysts anticipate that Zoetis Inc. will post $1.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders 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 yield of 0.76%. The ex-dividend date is Tuesday, June 28th.
In other Zoetis news, Director Pershing Square Capital Manage sold 16,850,000 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and institutional investors have made changes to their positions in ZTS. Baker Chad R acquired a new position in shares of Zoetis during the fourth quarter valued at $1,189,000. Commerzbank Aktiengesellschaft FI increased its position in shares of Zoetis by 102.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 28,061 shares of the company’s stock valued at $1,345,000 after buying an additional 14,185 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position 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 valued at $1,492,000 after buying an additional 1,636 shares during the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Zoetis during the fourth quarter valued at $1,532,000. Finally, Twin Capital Management Inc. acquired a new position in shares of Zoetis during the fourth quarter valued at $1,590,000.
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.