Zoetis (NYSE:ZTS) Stock Price Down 0.5% Following Analyst Downgrade

Zoetis Inc. (NYSE:ZTS) traded down 0.5% during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $223.00 to $196.00. The Goldman Sachs Group currently has a buy rating on the stock. Zoetis traded as low as $165.26 and last traded at $166.23. 663,632 shares were traded during mid-day trading, a decline of 79% from the average session volume of 3,148,278 shares. The stock had previously closed at $167.07.

A number of other analysts have also weighed in on the stock. StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Stifel Nicolaus reduced their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Barclays cut their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $212.38.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $173.33, for a total value of $159,983.59. Following the completion of the sale, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 2,209 shares of company stock worth $371,293. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZTS. Hohimer Wealth Management LLC increased its stake in shares of Zoetis by 1.2% during the 4th quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock worth $866,000 after purchasing an additional 52 shares during the last quarter. Forum Financial Management LP increased its stake in shares of Zoetis by 0.8% during the 4th quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock worth $1,458,000 after purchasing an additional 56 shares during the last quarter. Angeles Wealth Management LLC increased its stake in shares of Zoetis by 3.5% during the 4th quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock worth $324,000 after purchasing an additional 56 shares during the last quarter. Prossimo Advisors LLC increased its stake in shares of Zoetis by 1.7% during the 4th quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock worth $690,000 after purchasing an additional 57 shares during the last quarter. Finally, River Street Advisors LLC increased its stake in shares of Zoetis by 3.4% during the 4th quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock worth $347,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Trading Down 0.7 %

The company’s 50 day moving average price is $168.88 and its 200 day moving average price is $178.93. The company has a market cap of $75.72 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 2.62 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. Zoetis’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. Research analysts anticipate that Zoetis Inc. will post 5.77 EPS for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s dividend payout ratio is currently 33.33%.

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.