Zoetis (NYSE:ZTS) Shares Gap Up to $146.50

Zoetis Inc. (NYSE:ZTS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $146.50, but opened at $150.82. Zoetis shares last traded at $146.19, with a volume of 911,429 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on ZTS. The Goldman Sachs Group lifted their target price on shares of Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Stifel Nicolaus cut their target price on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Barclays dropped their price objective on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $218.00.

Zoetis Stock Up 2.8 %

The company has a market capitalization of $68.40 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.85. The firm’s 50-day simple moving average is $173.78 and its 200 day simple moving average is $179.78. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.08). Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Zoetis’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Zoetis Inc. will post 5.79 earnings per share for the current year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be given a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.16%. Zoetis’s dividend payout ratio is presently 34.12%.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $173.33, for a total value of $159,983.59. Following the sale, the executive vice president now directly owns 15,723 shares in the company, valued at approximately $2,725,267.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 2,209 shares of company stock worth $371,293 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Zoetis

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Bell Private Wealth Management LLC lifted its holdings in Zoetis by 222.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in Zoetis by 371.4% in the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in Zoetis in the 4th quarter valued at about $33,000. Webster Bank N. A. lifted its holdings in Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its holdings in Zoetis by 105.5% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 187 shares of the company’s stock valued at $33,000 after purchasing an additional 96 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

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.