Zoetis Inc. (ZTS) Price Target Raised to $70.00 at Morgan Stanley
Zoetis Inc. (NYSE:ZTS) had its price objective boosted by equities research analysts at Morgan Stanley from $61.00 to $70.00 in a research note issued on Friday. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 1.91% from the stock’s previous close.
Several other brokerages have also recently issued reports on ZTS. BidaskClub raised shares of Zoetis from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 target price on shares of Zoetis in a report on Tuesday, October 24th. Cantor Fitzgerald reissued a “buy” rating and set a $75.00 price objective on shares of Zoetis in a report on Tuesday, October 24th. BMO Capital Markets set a $65.00 price objective on shares of Zoetis and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research raised shares of Zoetis from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $66.28.
Shares of Zoetis (NYSE:ZTS) traded up $4.18 during trading on Friday, reaching $68.69. 4,320,676 shares of the company’s stock traded hands, compared to its average volume of 2,443,592. The firm has a market capitalization of $32,799.38, a PE ratio of 30.88 and a beta of 1.02.
Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, November 2nd. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Zoetis had a net margin of 18.29% and a return on equity of 66.15%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. analysts anticipate that Zoetis will post 2.36 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Appleton Partners Inc. MA increased its holdings in Zoetis by 5.8% during the fourth quarter. Appleton Partners Inc. MA now owns 108,963 shares of the company’s stock valued at $5,222,000 after buying an additional 6,011 shares during the last quarter. Locust Wood Capital Advisers LLC boosted its position in shares of Zoetis by 53.5% in the fourth quarter. Locust Wood Capital Advisers LLC now owns 367,155 shares of the company’s stock worth $17,594,000 after purchasing an additional 127,895 shares during the period. Friedberg Investment Management boosted its position in shares of Zoetis by 348.6% in the fourth quarter. Friedberg Investment Management now owns 82,190 shares of the company’s stock worth $3,938,000 after purchasing an additional 63,870 shares during the period. Congress Asset Management Co. MA boosted its position in shares of Zoetis by 1.7% in the fourth quarter. Congress Asset Management Co. MA now owns 309,593 shares of the company’s stock worth $14,836,000 after purchasing an additional 5,127 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Zoetis by 5.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,129 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,636 shares during the period. 93.04% of the stock is 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 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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