Zoetis (NYSE:ZTS) Price Target Raised to $200.00

Zoetis (NYSE:ZTS) had its price objective boosted by Stifel Nicolaus from $180.00 to $200.00 in a report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on ZTS. HSBC decreased their target price on Zoetis from $230.00 to $225.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Barclays cut their target price on shares of Zoetis from $260.00 to $230.00 and set an overweight rating for the company in a research note on Tuesday, April 23rd. Piper Sandler reaffirmed an overweight rating and issued a $195.00 price target (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. The Goldman Sachs Group cut their price objective on Zoetis from $223.00 to $196.00 and set a buy rating for the company in a research note on Monday, May 6th. Finally, BTIG Research assumed coverage on Zoetis in a research report on Thursday, July 25th. They issued a buy rating and a $220.00 target price on the stock. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zoetis has a consensus rating of Buy and an average price target of $214.89.

Zoetis Stock Performance

ZTS opened at $188.30 on Monday. The stock has a market cap of $85.92 billion, a P/E ratio of 36.28, a P/E/G ratio of 2.85 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The firm has a fifty day moving average price of $176.47 and a 200 day moving average price of $175.51. Zoetis has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.47%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 EPS. Equities research analysts anticipate that Zoetis will post 5.81 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, July 18th. Zoetis’s payout ratio is currently 33.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hohimer Wealth Management LLC boosted its holdings in Zoetis by 1.2% in the 4th quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock valued at $866,000 after purchasing an additional 52 shares during the last quarter. Asset Dedication LLC grew its position in Zoetis by 4.8% in the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after acquiring an additional 54 shares during the period. Forum Financial Management LP increased its stake in Zoetis by 0.8% during the fourth quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock worth $1,458,000 after acquiring an additional 56 shares during the last quarter. Angeles Wealth Management LLC lifted its stake in shares of Zoetis by 3.5% in the 4th quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $324,000 after purchasing an additional 56 shares during the last quarter. Finally, Prossimo Advisors LLC grew its holdings in shares of Zoetis by 1.7% during the 4th quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock worth $690,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

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.