Modern Wealth Management LLC Boosts Stock Position in Zoetis Inc. $ZTS

Modern Wealth Management LLC grew its stake in shares of Zoetis Inc. (NYSE:ZTS) by 7.5% during the 1st quarter, HoldingsChannel reports. The fund owned 13,005 shares of the company’s stock after buying an additional 908 shares during the period. Modern Wealth Management LLC’s holdings in Zoetis were worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Nova Wealth Management Inc. purchased a new stake in shares of Zoetis during the first quarter worth $25,000. 1248 Management LLC purchased a new stake in shares of Zoetis during the first quarter worth $27,000. Saudi Central Bank purchased a new stake in shares of Zoetis during the first quarter worth $29,000. Cornerstone Planning Group LLC lifted its position in shares of Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company’s stock worth $42,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ZTS shares. Stifel Nicolaus downgraded Zoetis from a “buy” rating to a “hold” rating and dropped their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Leerink Partners downgraded Zoetis from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Leerink Partnrs downgraded Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Piper Sandler increased their price objective on Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Finally, Argus reiterated a “buy” rating and issued a $190.00 price objective on shares of Zoetis in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.88.

Zoetis Trading Down 1.5%

Shares of ZTS stock opened at $148.33 on Friday. The company has a market capitalization of $65.74 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.42 and a beta of 0.89. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The business’s fifty day moving average is $152.32 and its 200 day moving average is $157.31.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal 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.