Zoetis Inc. (ZTS) Reaches New 1-Year High at $50.39
Zoetis Inc. (NYSE:ZTS)’s share price hit 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.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Zoetis from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Zoetis in a report on Wednesday, May 4th. Goldman Sachs Group Inc. lowered shares of Zoetis from a “neutral” rating to a “sell” rating and increased their target price for the company from $46.00 to $48.00 in a report on Friday, May 6th. Jefferies Group reaffirmed a “buy” rating and set a $58.00 target price (up previously from $57.00) on shares of Zoetis in a report on Tuesday, June 14th. Finally, Citigroup Inc. lowered shares of Zoetis from a “buy” rating to a “neutral” rating and increased their target price for the company from $46.00 to $50.00 in a report on Friday, June 10th. They noted that the move was a valuation call. 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 issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $54.68.
The company has a 50 day moving average of $48.01 and a 200-day moving average of $45.32. The company has a market capitalization of $24.94 billion and a PE ratio of 66.31.
Zoetis (NYSE:ZTS) last released its earnings results on Wednesday, May 4th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. During the same period last year, the firm posted $0.41 EPS. The company earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Zoetis’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Zoetis Inc. will post $1.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders of record on Thursday, June 30th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, June 28th.
In other news, Director Pershing Square Capital Manage sold 16,850,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $46.55, for a total value of $784,367,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Other institutional investors recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Zoetis by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 27,468,403 shares of the company’s stock valued at $1,316,286,000 after buying an additional 562,443 shares during the period. Marshall Wace LLP increased its stake in Zoetis by 24.9% in the fourth quarter. Marshall Wace LLP now owns 9,390,614 shares of the company’s stock worth $449,999,000 after buying an additional 1,874,617 shares during the last quarter. Principal Financial Group Inc. increased its stake in Zoetis by 11.4% in the fourth quarter. Principal Financial Group Inc. now owns 8,084,549 shares of the company’s stock worth $387,411,000 after buying an additional 824,462 shares during the last quarter. Bank of Montreal Can increased its stake in Zoetis by 1.5% in the fourth quarter. Bank of Montreal Can now owns 487,164 shares of the company’s stock worth $23,344,000 after buying an additional 7,165 shares during the last quarter. Finally, Foresters Investment Management Company Inc. increased its stake in Zoetis by 14.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 373,734 shares of the company’s stock worth $17,909,000 after buying an additional 46,800 shares during 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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