Zoetis Inc. (ZTS) Now Covered by Hilliard Lyons
Equities research analysts at Hilliard Lyons started coverage on shares of Zoetis Inc. (NYSE:ZTS) in a research note issued on Tuesday, The Fly reports. The brokerage set a “buy” rating on the stock.
ZTS has been the subject of several other reports. Credit Suisse Group boosted their price target on Zoetis from $61.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, May 24th. Zacks Investment Research upgraded Zoetis from a “sell” rating to a “hold” rating in a research note on Thursday, March 9th. BMO Capital Markets cut Zoetis from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $64.00 to $65.00 in a research note on Tuesday, June 13th. They noted that the move was a valuation call. CL King assumed coverage on Zoetis in a research note on Friday, May 26th. They set a “buy” rating and a $71.00 target price for the company. Finally, Argus restated a “buy” rating and set a $69.00 target price (up from $60.00) on shares of Zoetis in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $61.39.
Zoetis (NYSE:ZTS) opened at 63.03 on Tuesday. The company has a market cap of $30.93 billion, a P/E ratio of 36.65 and a beta of 1.03. The company’s 50 day moving average price is $60.91 and its 200 day moving average price is $55.49. Zoetis has a 52-week low of $45.28 and a 52-week high of $63.49.
Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Zoetis had a return on equity of 65.35% and a net margin of 17.25%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. Equities research analysts anticipate that Zoetis will post $2.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.105 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.42 dividend on an annualized basis and a yield of 0.67%. Zoetis’s payout ratio is currently 24.42%.
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In other Zoetis news, insider Catherine A. Knupp sold 5,785 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $60.16, for a total transaction of $348,025.60. Following the completion of the sale, the insider now directly owns 24,415 shares in the company, valued at approximately $1,468,806.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Zoetis by 2,471.1% in the first quarter. BlackRock Inc. now owns 36,082,470 shares of the company’s stock valued at $1,925,722,000 after buying an additional 34,679,064 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Zoetis by 1.7% in the first quarter. Vanguard Group Inc. now owns 32,744,421 shares of the company’s stock valued at $1,747,570,000 after buying an additional 546,287 shares in the last quarter. State Street Corp increased its stake in shares of Zoetis by 4.9% in the first quarter. State Street Corp now owns 21,256,557 shares of the company’s stock valued at $1,134,453,000 after buying an additional 986,680 shares in the last quarter. Morgan Stanley increased its stake in shares of Zoetis by 182.5% in the first quarter. Morgan Stanley now owns 14,617,205 shares of the company’s stock valued at $780,119,000 after buying an additional 9,442,207 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Zoetis by 4.2% in the first quarter. Clearbridge Investments LLC now owns 9,254,662 shares of the company’s stock valued at $493,921,000 after buying an additional 373,568 shares in the last quarter. Hedge funds and other institutional investors own 98.10% 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 business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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