Wealth Alliance Acquires 750 Shares of Zoetis Inc. (NYSE:ZTS)

Wealth Alliance grew its position in Zoetis Inc. (NYSE:ZTS) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,759 shares of the company’s stock after purchasing an additional 750 shares during the period. Wealth Alliance’s holdings in Zoetis were worth $2,212,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ZTS. Price T Rowe Associates Inc. MD raised its holdings in 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 purchasing an additional 3,244,074 shares during the period. Sarasin & Partners LLP raised its holdings in Zoetis by 546.3% in the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after purchasing an additional 1,904,899 shares during the period. Swedbank AB acquired a new stake in shares of Zoetis during the first quarter worth $210,815,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Zoetis during the fourth quarter worth $242,757,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Zoetis by 122.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock worth $285,923,000 after acquiring an additional 797,884 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZTS has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and set a $200.00 price objective on shares of Zoetis in a report on Tuesday, August 27th. Piper Sandler raised their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. BTIG Research raised their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $217.11.

Zoetis Stock Performance

Shares of ZTS opened at $195.74 on Wednesday. The firm has a 50-day moving average of $183.65 and a 200-day moving average of $174.15. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The company has a market cap of $88.68 billion, a PE ratio of 37.71, a price-to-earnings-growth ratio of 2.98 and a beta of 0.88. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm posted $1.41 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts forecast that Zoetis Inc. will post 5.84 earnings per share for the current year.

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.