Zoetis (ZTS) Downgraded by Zacks Investment Research to Hold

Zoetis (NYSE:ZTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Zoetis’ companion animal business performed impressively on higher international sales of Apoquel and Simparica and increased dermatology sales. This growth more than offset the negative impact of the implementation the Veterinary Feed Directive in the United States. Zoetis’ industry leading dermatology portfolio with products like Apoquel and Cytopoint, new oral parasiticide, Simparica, and several other new companion animal products is expected to drive further growth. The acquisition of Nexvet Biopharma will further strengthen Zoetis’ chronic pain management franchise.Shares of Zoetis have outperformed the industry in 2017 in the last six months. However, Zoetis faces stiff competition from companies like Merck Animal Health. Disease outbreak among animals is a material cause of concern for Zoetis’ livestock products.”

Several other equities research analysts also recently issued reports on ZTS. BidaskClub upgraded Zoetis from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Cantor Fitzgerald reiterated a “buy” rating and issued a $75.00 price objective on shares of Zoetis in a report on Tuesday, September 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $65.00 price objective on shares of Zoetis in a report on Tuesday, October 24th. Finally, BMO Capital Markets set a $65.00 price objective on Zoetis and gave the company a “hold” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Zoetis presently has a consensus rating of “Buy” and an average price target of $70.83.

Zoetis (NYSE ZTS) traded up $0.83 during trading hours on Friday, reaching $73.36. The company’s stock had a trading volume of 2,170,000 shares, compared to its average volume of 1,870,000. Zoetis has a 12 month low of $52.00 and a 12 month high of $73.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.80 and a quick ratio of 1.95. The stock has a market capitalization of $35,750.00, a P/E ratio of 38.61, a P/E/G ratio of 1.89 and a beta of 1.06.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, November 2nd. The company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. Zoetis had a return on equity of 62.39% and a net margin of 18.29%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts expect that Zoetis will post 2.37 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd increased its holdings in Zoetis by 7.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,901 shares of the company’s stock worth $368,000 after purchasing an additional 401 shares during the period. Balyasny Asset Management LLC boosted its position in shares of Zoetis by 55.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 44,330 shares of the company’s stock worth $2,765,000 after acquiring an additional 15,830 shares in the last quarter. BlackRock Inc. boosted its position in shares of Zoetis by 3.9% during the 2nd quarter. BlackRock Inc. now owns 37,495,299 shares of the company’s stock worth $2,338,957,000 after acquiring an additional 1,412,829 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Zoetis during the 3rd quarter worth about $3,972,000. Finally, Prudential PLC boosted its position in shares of Zoetis by 4.8% during the 2nd quarter. Prudential PLC now owns 149,389 shares of the company’s stock worth $9,319,000 after acquiring an additional 6,811 shares in the last quarter. Institutional investors own 93.19% of the company’s stock.

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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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