Zoetis (NYSE:ZTS) Trading Down 2.1% Following Insider Selling

Zoetis Inc. (NYSE:ZTS)’s share price traded down 2.1% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $149.33 and last traded at $149.94. 542,959 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 2,957,125 shares. The stock had previously closed at $153.11.

Specifically, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $173.33, for a total transaction of $159,983.59. Following the completion of the sale, the executive vice president now directly owns 15,723 shares in the company, valued at approximately $2,725,267.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 2,209 shares of company stock worth $371,293 in the last three months. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (down from $220.00) on shares of Zoetis in a research note on Tuesday. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Stifel Nicolaus dropped their price target on Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays boosted their price objective on Zoetis from $255.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $221.75.

Zoetis Stock Performance

The firm has a market capitalization of $67.48 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.32 and a beta of 0.85. The company has a fifty day moving average of $176.49 and a two-hundred day moving average of $180.20. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. Zoetis’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. As a group, equities research analysts predict that Zoetis Inc. will post 5.79 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a yield of 1.17%. Zoetis’s dividend payout ratio is presently 34.12%.

Hedge Funds Weigh In On Zoetis

A number of institutional investors have recently modified their holdings of ZTS. Fairfield Bush & CO. acquired a new position in shares of Zoetis during the 1st quarter worth $134,000. Sequoia Financial Advisors LLC raised its holdings in shares of Zoetis by 5.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,166 shares of the company’s stock worth $786,000 after buying an additional 211 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Zoetis by 3.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 51,581 shares of the company’s stock worth $9,727,000 after buying an additional 1,914 shares in the last quarter. Covestor Ltd grew its position in Zoetis by 102.8% during the 1st quarter. Covestor Ltd now owns 724 shares of the company’s stock worth $137,000 after acquiring an additional 367 shares during the last quarter. Finally, Merit Financial Group LLC grew its position in Zoetis by 92.8% during the 1st quarter. Merit Financial Group LLC now owns 2,342 shares of the company’s stock worth $442,000 after acquiring an additional 1,127 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Company Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.