Credit Suisse Group AG Reiterates Outperform Rating for Zoetis Inc (ZTS)
Zoetis Inc (NYSE:ZTS)‘s stock had its “outperform” rating reiterated by Credit Suisse Group AG in a report released on Wednesday. They presently have a $67.00 target price on the stock, up from their previous target price of $61.00. Credit Suisse Group AG’s price objective indicates a potential upside of 7.54% from the stock’s previous close.
Several other brokerages also recently issued reports on ZTS. Zacks Investment Research raised shares of Zoetis from a “sell” rating to a “hold” rating in a research report on Thursday, March 9th. Craig Hallum started coverage on shares of Zoetis in a research report on Wednesday, March 15th. They set a “buy” rating and a $65.00 price objective on the stock. Off Wall Street reissued a “strong sell” rating and set a $35.00 price objective on shares of Zoetis in a research report on Thursday, February 16th. BMO Capital Markets reissued an “outperform” rating and set a $60.00 price objective on shares of Zoetis in a research report on Sunday, February 19th. Finally, Jefferies Group LLC raised their price objective on shares of Zoetis from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $58.94.
Shares of Zoetis (NYSE:ZTS) traded up 1.42% during midday trading on Wednesday, hitting $62.30. 3,869,148 shares of the stock were exchanged. The company has a market cap of $30.58 billion, a PE ratio of 36.22 and a beta of 1.07. Zoetis has a 12 month low of $45.28 and a 12 month high of $62.49. The stock has a 50 day moving average price of $56.75 and a 200-day moving average price of $53.89.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. Zoetis had a net margin of 14.10% and a return on equity of 72.96%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business earned $0.48 EPS. Zoetis’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, analysts predict that Zoetis will post $2.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, June 15th will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Tuesday, June 13th. Zoetis’s payout ratio is currently 30.44%.
In other Zoetis news, insider Catherine A. Knupp sold 5,785 shares of Zoetis stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $60.16, for a total transaction of $348,025.60. Following the completion of the transaction, the insider now owns 24,415 shares in the company, valued at $1,468,806.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position 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 worth $1,925,722,000 after buying an additional 34,679,064 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Zoetis by 12.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 34,863,382 shares of the company’s stock worth $1,813,244,000 after buying an additional 3,806,515 shares during the last quarter. Vanguard Group Inc. boosted its position 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 worth $1,747,570,000 after buying an additional 546,287 shares during the last quarter. State Street Corp boosted its position 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 worth $1,134,453,000 after buying an additional 986,680 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Zoetis by 182.5% in the first quarter. Morgan Stanley now owns 14,617,205 shares of the company’s stock worth $780,119,000 after buying an additional 9,442,207 shares during the last quarter. Institutional investors own 94.54% 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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