BidaskClub Downgrades Zoetis Inc. (ZTS) to Buy
Zoetis Inc. (NYSE:ZTS) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.
Several other research analysts also recently commented on ZTS. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $62.00 target price on shares of Zoetis in a report on Monday, August 7th. Cowen and Company set a $70.00 target price on shares of Zoetis and gave the stock a “buy” rating in a report on Monday, July 17th. Cantor Fitzgerald reiterated a “buy” rating and issued a $75.00 target price on shares of Zoetis in a report on Wednesday, September 6th. Piper Jaffray Companies set a $73.00 target price on shares of Zoetis and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Zoetis from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $65.44.
Shares of Zoetis (NYSE:ZTS) opened at 64.24 on Wednesday. Zoetis has a one year low of $46.86 and a one year high of $65.83. The company has a 50-day moving average price of $62.44 and a 200 day moving average price of $59.64. The firm has a market capitalization of $31.42 billion, a P/E ratio of 36.31 and a beta of 1.02.
Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. Zoetis’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. Analysts expect that Zoetis will post $2.34 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Zoetis by 3.9% in the 2nd quarter. BlackRock Inc. now owns 37,495,299 shares of the company’s stock worth $2,338,957,000 after purchasing an additional 1,412,829 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Zoetis by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 33,654,686 shares of the company’s stock valued at $2,099,379,000 after acquiring an additional 910,265 shares in the last quarter. State Street Corp boosted its position in shares of Zoetis by 4.9% during the 1st quarter. State Street Corp now owns 21,256,557 shares of the company’s stock valued at $1,134,453,000 after acquiring an additional 986,680 shares in the last quarter. Morgan Stanley boosted its position in shares of Zoetis by 182.5% during the 1st quarter. Morgan Stanley now owns 14,617,205 shares of the company’s stock valued at $780,119,000 after acquiring an additional 9,442,207 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Zoetis by 55.4% during the 2nd quarter. Alliancebernstein L.P. now owns 10,370,388 shares of the company’s stock valued at $646,905,000 after acquiring an additional 3,695,449 shares in the last quarter. Institutional investors own 93.20% of the company’s stock.
Zoetis Company Profile
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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