Zoetis’ (ZTS) “Buy” Rating Reaffirmed at Stifel Nicolaus
Zoetis Inc. (NYSE:ZTS)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a research note issued to investors on Wednesday. They currently have a $58.00 target price on the stock. Stifel Nicolaus’ price target points to a potential upside of 13.81% from the stock’s current price.
Several other research analysts have also recently issued reports on the stock. Bank of America Corp. started coverage on shares of Zoetis in a report on Thursday, September 29th. They issued a “buy” rating and a $60.00 target price for the company. Argus lifted their target price on shares of Zoetis from $54.00 to $58.00 and gave the stock a “below average” rating in a report on Friday, September 9th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Zoetis in a report on Tuesday, August 23rd. Guggenheim reaffirmed a “positive” rating and issued a $60.00 target price on shares of Zoetis in a report on Monday, August 22nd. Finally, Zacks Investment Research cut shares of Zoetis from a “buy” rating to a “hold” rating in a report on Thursday, October 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $55.27.
Shares of Zoetis (NYSE:ZTS) traded up 0.78% during mid-day trading on Wednesday, hitting $51.36. 2,139,180 shares of the company were exchanged. Zoetis has a 52 week low of $38.26 and a 52 week high of $53.14. The company has a 50 day moving average of $51.24 and a 200 day moving average of $48.92. The company has a market capitalization of $25.43 billion, a P/E ratio of 40.00 and a beta of 1.01.
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Zoetis (NYSE:ZTS) last issued its earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. The business earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Zoetis had a net margin of 13.15% and a return on equity of 77.58%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. Equities analysts anticipate that Zoetis will post $1.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 3rd will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 1st. Zoetis’s dividend payout ratio is currently 29.69%.
In other news, Director Michael B. Mccallister purchased 2,000 shares of the stock in a transaction on Tuesday, September 6th. The shares were acquired at an average price of $51.34 per share, with a total value of $102,680.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heidi C. Chen sold 32,097 shares of Zoetis stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $50.98, for a total transaction of $1,636,305.06. Following the transaction, the insider now directly owns 46,060 shares in the company, valued at approximately $2,348,138.80. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. NEXT Financial Group Inc increased its position in shares of Zoetis by 9.5% in the second quarter. NEXT Financial Group Inc now owns 2,136 shares of the company’s stock valued at $101,000 after buying an additional 186 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA increased its position in shares of Zoetis by 113.4% in the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 2,446 shares of the company’s stock valued at $116,000 after buying an additional 1,300 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Zoetis during the first quarter valued at $118,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Zoetis by 22.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,566 shares of the company’s stock valued at $121,000 after buying an additional 476 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Zoetis by 4.4% in the second quarter. Glenmede Trust Co. NA now owns 2,950 shares of the company’s stock valued at $139,000 after buying an additional 124 shares in the last quarter. 93.12% of the stock is currently owned by institutional investors and hedge funds.
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 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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