Zoetis (NYSE:ZTS) Shares Gap Down – Should You Sell?

Zoetis Inc. (NYSE:ZTS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $173.88, but opened at $161.99. Zoetis shares last traded at $155.57, with a volume of 1,829,505 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZTS. Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Leerink Partners assumed coverage on Zoetis in a report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price objective on the stock. Morgan Stanley cut their price objective on Zoetis from $248.00 to $243.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Stifel Nicolaus decreased their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Piper Sandler dropped their price target on Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Zoetis presently has an average rating of “Buy” and an average price target of $214.00.

Zoetis Stock Down 6.6 %

The firm’s fifty day simple moving average is $169.08 and its two-hundred day simple moving average is $179.08. The company has a market capitalization of $73.29 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Sell-side analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.23%. Zoetis’s dividend payout ratio (DPR) is currently 37.59%.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the sale, the executive vice president now owns 16,107 shares of the company’s stock, valued at $2,757,196.26. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zoetis

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Zoetis by 482.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Rakuten Securities Inc. boosted its position in Zoetis by 5,533.3% in the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock valued at $28,000 after buying an additional 166 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Zoetis in the third quarter worth $31,000. First Personal Financial Services acquired a new stake in shares of Zoetis in the third quarter valued at $33,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Zoetis in the third quarter valued at $33,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Company Profile

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.