Zoetis (NYSE:ZTS) Price Target Cut to $225.00

Zoetis (NYSE:ZTS) had its target price reduced by investment analysts at HSBC from $230.00 to $225.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HSBC’s price target would suggest a potential upside of 33.83% from the company’s previous close.

A number of other equities research analysts also recently commented on ZTS. The Goldman Sachs Group cut their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Stifel Nicolaus dropped their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Barclays reduced their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Finally, StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zoetis presently has an average rating of “Buy” and an average target price of $211.75.

Zoetis Stock Up 1.9 %

Zoetis stock opened at $168.13 on Wednesday. The firm has a market cap of $76.72 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.57 and a beta of 0.86. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. Zoetis has a 12 month low of $144.80 and a 12 month high of $201.92. The stock has a fifty day simple moving average of $166.94 and a two-hundred day simple moving average of $178.83.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. Zoetis’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 EPS. Equities analysts predict that Zoetis will post 5.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the transaction, the executive vice president now owns 14,800 shares of the company’s stock, valued at $2,237,316. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 2,209 shares of company stock valued at $371,293. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zoetis

A number of hedge funds have recently made changes to their positions in ZTS. Norges Bank purchased a new position in Zoetis in the 4th quarter worth approximately $980,646,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Zoetis by 31.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after buying an additional 3,244,074 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Zoetis in the fourth quarter worth $242,757,000. Vaughan Nelson Investment Management L.P. purchased a new position in Zoetis during the third quarter valued at $176,219,000. Finally, CIBC Private Wealth Group LLC grew its stake in Zoetis by 122.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock valued at $285,923,000 after acquiring an additional 797,884 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.