Piper Jaffray Cos. reaffirmed their overweight rating on shares of Zoetis Inc. (NYSE:ZTS) in a research note released on Thursday morning. Piper Jaffray Cos. currently has a $61.00 price objective on the stock.
A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. reiterated a hold rating and issued a $53.00 target price on shares of Zoetis in a report on Thursday, November 3rd. Zacks Investment Research downgraded shares of Zoetis from a buy rating to a hold rating in a report on Tuesday, November 15th. Bank of America Corp. assumed coverage on shares of Zoetis in a report on Thursday, September 29th. They set a buy rating and a $60.00 price objective on the stock. Argus upped their price objective on shares of Zoetis from $54.00 to $58.00 and gave the company a below average rating in a report on Friday, September 9th. Finally, Credit Suisse Group AG restated an outperform rating and set a $60.00 price objective on shares of Zoetis in a report on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $56.77.
Zoetis (NYSE:ZTS) opened at 52.39 on Thursday. The firm has a 50-day moving average of $50.21 and a 200 day moving average of $50.07. Zoetis has a 52-week low of $38.26 and a 52-week high of $53.14. The company has a market capitalization of $25.87 billion, a P/E ratio of 37.77 and a beta of 1.06.
Zoetis (NYSE:ZTS) last announced its earnings results on Wednesday, November 2nd. The company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.06. The business earned $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. Zoetis had a net margin of 14.10% and a return on equity of 72.96%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. Equities analysts predict that Zoetis will post $1.94 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, January 20th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, January 18th. This is a positive change from Zoetis’s previous quarterly dividend of $0.10. Zoetis’s dividend payout ratio is currently 27.54%.
In other Zoetis news, insider Roxanne Lagano sold 9,797 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $50.43, for a total value of $494,062.71. Following the sale, the insider now owns 8,063 shares in the company, valued at approximately $406,617.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kristin C. Peck sold 10,092 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $49.55, for a total value of $500,058.60. Following the completion of the sale, the insider now owns 22,768 shares in the company, valued at approximately $1,128,154.40. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in shares of Zoetis during the second quarter worth about $5,328,000. Nordea Investment Management AB raised its position in shares of Zoetis by 0.7% in the second quarter. Nordea Investment Management AB now owns 24,432 shares of the company’s stock worth $1,160,000 after buying an additional 163 shares during the period. BLB&B Advisors LLC raised its position in shares of Zoetis by 1.7% in the second quarter. BLB&B Advisors LLC now owns 54,625 shares of the company’s stock worth $2,593,000 after buying an additional 923 shares during the period. Eagle Asset Management Inc. raised its position in shares of Zoetis by 1.1% in the second quarter. Eagle Asset Management Inc. now owns 78,205 shares of the company’s stock worth $3,711,000 after buying an additional 847 shares during the period. Finally, Barrett Asset Management LLC acquired a new position in shares of Zoetis during the second quarter worth about $237,000. Institutional investors and hedge funds own 92.31% of the company’s stock.
Zoetis Company Profile
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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