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1832 Asset Management L.P. Sells 2,340 Shares of Zoetis Inc. $ZTS

Zoetis logo with Medical background

Key Points

  • 1832 Asset Management L.P. reduced its stake in Zoetis Inc. by 9.3% in Q1, selling 2,340 shares and holding 22,692 shares valued at $3.736 million.
  • Multiple institutional investors, including Norinchukin Bank and Ameriprise Financial, have increased their stakes in Zoetis during the same quarter, with overall institutional ownership at 92.80%.
  • Zoetis reported quarterly earnings of $1.76 per share, exceeding the expected $1.62, while revenue increased by 4.2% compared to the previous year, totaling $2.46 billion.
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1832 Asset Management L.P. reduced its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,692 shares of the company's stock after selling 2,340 shares during the period. 1832 Asset Management L.P.'s holdings in Zoetis were worth $3,736,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new position in Zoetis during the first quarter valued at approximately $616,375,000. Sarasin & Partners LLP acquired a new position in Zoetis during the first quarter valued at approximately $339,111,000. Mackenzie Financial Corp boosted its position in Zoetis by 4,158.3% during the first quarter. Mackenzie Financial Corp now owns 1,824,967 shares of the company's stock valued at $300,481,000 after purchasing an additional 1,782,110 shares during the last quarter. GAMMA Investing LLC boosted its position in Zoetis by 14,731.3% during the first quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company's stock valued at $289,666,000 after purchasing an additional 1,747,423 shares during the last quarter. Finally, Polen Capital Management LLC boosted its position in Zoetis by 17.6% during the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock valued at $1,448,401,000 after purchasing an additional 1,313,653 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the transaction, the executive vice president owned 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Zoetis Stock Performance

Shares of NYSE ZTS traded up $0.60 during trading hours on Wednesday, reaching $155.39. 1,931,129 shares of the stock were exchanged, compared to its average volume of 3,439,366. The firm has a market capitalization of $68.87 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.48 and a beta of 0.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The stock's fifty day simple moving average is $153.53 and its 200 day simple moving average is $158.26.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts predict that Zoetis Inc. will post 6.07 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and reduced their price target for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Piper Sandler increased their price target on Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. UBS Group dropped their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Zoetis currently has an average rating of "Moderate Buy" and an average price target of $202.43.

Check Out Our Latest Analysis on ZTS

Zoetis Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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