Zoetis Inc. (NYSE:ZTS) Downgraded by Deutsche Bank AG to “Hold”
Zoetis Inc. (NYSE:ZTS) was downgraded by stock analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a report released on Tuesday, The Fly reports.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Zoetis from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Hilliard Lyons started coverage on Zoetis in a report on Tuesday, June 20th. They issued a “buy” rating and a $77.00 price target for the company. Argus reiterated a “buy” rating and issued a $69.00 price target (up from $60.00) on shares of Zoetis in a report on Tuesday, May 30th. CL King started coverage on Zoetis in a report on Friday, May 26th. They issued a “buy” rating and a $71.00 price target for the company. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $60.00 price target on shares of Zoetis in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.47.
Shares of Zoetis (NYSE:ZTS) traded down 3.18% during trading on Tuesday, reaching $61.28. 6,067,931 shares of the company’s stock traded hands. The company has a 50 day moving average price of $62.65 and a 200 day moving average price of $57.14. Zoetis has a 1-year low of $46.86 and a 1-year high of $63.85. The stock has a market capitalization of $30.08 billion, a PE ratio of 35.63 and a beta of 1.03.
Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. Zoetis had a return on equity of 65.35% and a net margin of 17.25%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $0.48 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts forecast that Zoetis will post $2.33 EPS for the current fiscal year.
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In other news, insider Catherine A. Knupp sold 5,785 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $60.16, for a total value of $348,025.60. Following the completion of the transaction, the insider now owns 24,415 shares of the company’s stock, valued at $1,468,806.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in Zoetis during the fourth quarter valued at about $6,257,000. Wealthfront Inc. boosted its position in Zoetis by 14.8% in the fourth quarter. Wealthfront Inc. now owns 13,427 shares of the company’s stock valued at $719,000 after buying an additional 1,731 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Zoetis by 0.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,850,647 shares of the company’s stock valued at $99,065,000 after buying an additional 13,853 shares during the last quarter. Kentucky Retirement Systems acquired a new position in Zoetis during the fourth quarter valued at about $1,918,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Zoetis during the fourth quarter valued at about $856,000. 95.20% of the stock is owned by institutional investors.
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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