iA Global Asset Management Inc. Makes New Investment in Zoetis Inc. (NYSE:ZTS)

iA Global Asset Management Inc. purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,642 shares of the company’s stock, valued at approximately $631,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ZTS. Focus Financial Network Inc. ADV acquired a new position in Zoetis in the fourth quarter valued at about $2,159,000. Price T Rowe Associates Inc. MD increased its stake in Zoetis by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Axiom Investors LLC DE raised its holdings in Zoetis by 36.3% during the 4th quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock worth $117,331,000 after buying an additional 158,459 shares during the period. Global Assets Advisory LLC bought a new position in Zoetis in the first quarter valued at approximately $8,831,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Zoetis by 3.3% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 96,810 shares of the company’s stock valued at $19,107,000 after acquiring an additional 3,075 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Ratings Changes

ZTS has been the topic of several research reports. HSBC cut their target price on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Piper Sandler increased their target price on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. BTIG Research lifted their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group lowered their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $217.11.

Zoetis Trading Up 0.3 %

Shares of NYSE:ZTS opened at $183.49 on Friday. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The company has a market capitalization of $83.73 billion, a P/E ratio of 35.35, a price-to-earnings-growth ratio of 2.78 and a beta of 0.86. The company has a 50-day simple moving average of $179.58 and a 200 day simple moving average of $174.69.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. Zoetis’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. Sell-side analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current year.

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.