Zoetis (NYSE:ZTS) Price Target Lowered to $230.00 at Barclays

Zoetis (NYSE:ZTS) had its price objective decreased by Barclays from $260.00 to $230.00 in a research report report published on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of Zoetis from a strong-buy rating to a buy rating in a research note on Tuesday, February 20th. Stifel Nicolaus decreased their price target on shares of Zoetis from $215.00 to $195.00 and set a buy rating on the stock in a research note on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on shares of Zoetis from $190.00 to $226.00 and gave the stock a buy rating in a research note on Wednesday, January 17th. Finally, Piper Sandler reaffirmed an overweight rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zoetis presently has a consensus rating of Buy and a consensus price target of $218.00.

Zoetis Trading Up 3.3 %

Shares of ZTS opened at $158.42 on Tuesday. The firm’s 50 day simple moving average is $171.79 and its 200 day simple moving average is $179.29. The company has a market capitalization of $72.45 billion, a P/E ratio of 31.25, a P/E/G ratio of 2.31 and a beta of 0.85. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. Zoetis has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. Sell-side analysts forecast that Zoetis will post 5.79 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be given a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s payout ratio is currently 34.12%.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $173.33, for a total transaction of $159,983.59. Following the transaction, the executive vice president now directly owns 15,723 shares of the company’s stock, valued at approximately $2,725,267.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 2,209 shares of company stock valued at $371,293. 0.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in shares of Zoetis by 25.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,726 shares of the company’s stock valued at $302,000 after buying an additional 346 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of Zoetis by 38.1% during the 3rd quarter. Capital Investment Advisors LLC now owns 2,263 shares of the company’s stock valued at $394,000 after buying an additional 624 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Zoetis during the 3rd quarter valued at $214,000. DAVENPORT & Co LLC boosted its stake in Zoetis by 1.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 47,327 shares of the company’s stock worth $8,234,000 after purchasing an additional 558 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in Zoetis by 2.8% in the 3rd quarter. Private Trust Co. NA now owns 9,993 shares of the company’s stock worth $1,739,000 after purchasing an additional 268 shares in the last quarter. 92.80% of the stock is 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.