BTIG Research Drops Coverage on Zoetis (NYSE:ZTS)

Key Points

• BTIG Research dropped coverage of Zoetis, removing its previously assigned “buy” rating without issuing a new recommendation.
• Analyst sentiment is mixed: six analysts rate Zoetis a “buy,” twelve assign a “hold,” and one rates it a “sell,” resulting in an average “hold” rating and a $93.79 consensus price target.
• Zoetis shares traded at $79.67, while the company’s latest quarter slightly exceeded EPS expectations but recorded a 0.2% year-over-year revenue decline.

BTIG Research dropped coverage on shares of Zoetis (NYSE:ZTS - Get Free Report) in a report released on Friday, Benzinga reports. The brokerage had previously set a "buy" rating on the stock.

ZTS has been the subject of several other research reports. Zacks Research upgraded shares of Zoetis from a "strong sell" rating to a "hold" rating in a research note on Monday. TD Cowen decreased their price target on shares of Zoetis from $104.00 to $94.00 and set a "buy" rating on the stock in a report on Tuesday, August 25th. Jefferies Financial Group cut shares of Zoetis from a "buy" rating to a "hold" rating and reduced their price target for the company from $103.00 to $83.00 in a research report on Tuesday, October 20th. JPMorgan Chase & Co. lowered their price target on shares of Zoetis from $130.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Finally, Morgan Stanley decreased their price objective on Zoetis from $85.00 to $82.00 and set an "overweight" rating on the stock in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $93.79.

Zoetis Stock Performance

Shares of NYSE ZTS traded up $0.87 during midday trading on Friday, hitting $79.67. 4,115,503 shares of the company's stock were exchanged, compared to its average volume of 5,429,776. The firm has a market capitalization of $32.92 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.15 and a beta of 0.74. The company's 50 day moving average price is $74.95 and its 200 day moving average price is $93.86. Zoetis has a 12 month low of $68.77 and a 12 month high of $144.83. The company has a quick ratio of 1.84, a current ratio of 3.08 and a debt-to-equity ratio of 2.87.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. Zoetis had a return on equity of 74.89% and a net margin of 27.49%. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the firm posted $1.76 EPS. The firm's revenue for the quarter was down .2% compared to the same quarter last year. Zoetis has set its FY 2026 guidance at 6.150-6.250 EPS. As a group, analysts predict that Zoetis will post 6.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zoetis

Several large investors have recently modified their holdings of ZTS. Cassaday & Co Wealth Management LLC purchased a new position in Zoetis in the first quarter worth about $28,000. Root Financial Partners LLC lifted its holdings in shares of Zoetis by 66.5% during the first quarter. Root Financial Partners LLC now owns 258 shares of the company's stock valued at $30,000 after purchasing an additional 103 shares in the last quarter. Wellington Grp LLC boosted its position in shares of Zoetis by 6,675.0% during the first quarter. Wellington Grp LLC now owns 271 shares of the company's stock valued at $32,000 after buying an additional 267 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Zoetis during the first quarter valued at $38,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Zoetis in the 2nd quarter worth about $25,000. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Company Profile

Zoetis Inc is a global animal health company that develops, manufactures and markets medicines, vaccines, diagnostics, genetic products and related services for animals. Its offerings support the prevention, diagnosis and treatment of disease in both companion animals, including dogs, cats and horses, and livestock such as cattle, swine, poultry and fish.

The company's product portfolio includes prescription medicines, parasiticides, vaccines, veterinary diagnostics and animal genetics.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.