40,294 Zoetis Inc. $ZTS Shares Purchased by Rockland Trust Co.

Key Points

• Rockland Trust increased its Zoetis stake by 19.8% in the third quarter, purchasing 40,294 shares and bringing its holdings to 244,065 shares valued at approximately $17.0 million.
• Institutional investors own 92.8% of Zoetis, with several major funds—including Deutsche Bank, Pacer Advisors and Diamond Hill Capital—also increasing their positions.
• Zoetis shares recently traded at $70.51, near their 12-month low of $68.77. Analysts have a consensus “Hold” rating and an average price target of $101.08, while the company’s latest quarterly earnings slightly exceeded expectations.

Rockland Trust Co. boosted its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 19.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 244,065 shares of the company's stock after buying an additional 40,294 shares during the quarter. Rockland Trust Co. owned approximately 0.06% of Zoetis worth $17,043,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ZTS. Louisiana State Employees Retirement System bought a new stake in shares of Zoetis during the 1st quarter worth $2,542,000. Wealthfront Advisers LLC boosted its holdings in Zoetis by 80.2% in the 2nd quarter. Wealthfront Advisers LLC now owns 76,113 shares of the company's stock worth $5,469,000 after buying an additional 33,873 shares during the period. Deutsche Bank AG boosted its holdings in shares of Zoetis by 19.1% in the fourth quarter. Deutsche Bank AG now owns 5,558,183 shares of the company's stock worth $699,331,000 after acquiring an additional 891,921 shares during the period. Pacer Advisors Inc. boosted its position in shares of Zoetis by 16.7% in the first quarter. Pacer Advisors Inc. now owns 165,570 shares of the company's stock valued at $19,572,000 after acquiring an additional 23,687 shares during the period. Finally, Diamond Hill Capital Management LLC Investment Advisor lifted its stake in Zoetis by 21.5% in the 2nd quarter. Diamond Hill Capital Management LLC Investment Advisor now owns 3,557,436 shares of the company's stock worth $255,637,000 after purchasing an additional 629,974 shares in the last quarter. Institutional investors own 92.80% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. HSBC decreased their price objective on shares of Zoetis from $140.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. BNP Paribas Exane decreased their target price on shares of Zoetis from $146.00 to $110.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 11th. Barclays lowered their price objective on Zoetis from $136.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 1st. Weiss Ratings reissued a "sell (d)" rating on shares of Zoetis in a research note on Wednesday, September 9th. Finally, TD Cowen cut 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. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $101.08.

Zoetis Stock Up 1.2%

Zoetis stock traded up $0.82 during mid-day trading on Monday, hitting $70.51. The company had a trading volume of 1,318,579 shares, compared to its average volume of 5,582,245. The company has a current ratio of 3.08, a quick ratio of 1.84 and a debt-to-equity ratio of 2.87. The stock's 50 day moving average price is $74.39 and its two-hundred day moving average price is $86.22. Zoetis Inc. has a 12 month low of $68.77 and a 12 month high of $148.30. The company has a market capitalization of $29.14 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.74.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.50 billion. Zoetis had a return on equity of 74.89% and a net margin of 27.49%.The company's revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. Zoetis has set its FY 2026 guidance at 6.150-6.250 EPS. As a group, sell-side analysts anticipate that Zoetis Inc. will post 6.2 earnings per share for the current fiscal year.

About Zoetis

Zoetis Inc is a global animal health company that develops, manufactures and commercializes medicines, vaccines, diagnostics and other products for pets and livestock. Its portfolio is designed to help prevent and treat disease, improve animal health and support veterinary care.

The company serves the companion animal market with products for dogs, cats and other pets, including parasiticides, vaccines, dermatology treatments and pain-management therapies. Zoetis also provides animal health products for cattle, swine, poultry, fish and other livestock, along with diagnostic instruments, tests and services used by veterinarians and producers.

Zoetis was established as an independent public company in 2013 after being separated from Pfizer, which had operated the business as Pfizer Animal Health.

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.