483,862 Zoetis Inc. $ZTS Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management cut its Zoetis stake by 52.3%, selling 483,862 shares and retaining 440,465 shares valued at approximately $31.7 million. Institutional investors collectively own 92.8% of the company.
• Analysts have broadly reduced their price targets, with ratings spanning eight Buys, nine Holds and two Sells. MarketBeat reports a consensus Hold rating and an average target price of $101.08.
• Zoetis shares opened at $71.42, near their 52-week low of $69.52. The company slightly exceeded quarterly earnings expectations with EPS of $1.87 versus $1.85 anticipated, while revenue of $2.47 billion fell short of estimates and declined 0.2% year over year.

Envestnet Asset Management Inc. trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 52.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 440,465 shares of the company's stock after selling 483,862 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of Zoetis worth $31,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System purchased a new position in shares of Zoetis in the first quarter worth $2,542,000. Wealthfront Advisers LLC boosted its position in Zoetis by 80.2% during the 2nd quarter. Wealthfront Advisers LLC now owns 76,113 shares of the company's stock valued at $5,469,000 after buying an additional 33,873 shares during the period. Deutsche Bank AG grew its holdings in Zoetis by 19.1% in the 4th 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 last quarter. Pincus Capital Management LP bought a new stake in Zoetis in the 4th quarter worth $2,109,000. Finally, Pacer Advisors Inc. increased 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. 92.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Piper Sandler lowered their price objective on shares of Zoetis from $90.00 to $80.00 and set a "neutral" rating for the company in a research note on Monday, August 10th. JPMorgan Chase & Co. lowered their price target on Zoetis from $130.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. UBS Group dropped their price objective on Zoetis from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, August 7th. Stifel Nicolaus cut their price objective on Zoetis from $85.00 to $80.00 and set a "hold" rating on the stock in a research report on Thursday, August 20th. Finally, TD Cowen reduced their target price on Zoetis from $104.00 to $94.00 and set a "buy" rating on the stock in a research note on Tuesday, August 25th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $101.08.

Zoetis Trading Up 0.5%

Shares of ZTS opened at $71.42 on Tuesday. Zoetis Inc. has a 1-year low of $69.52 and a 1-year high of $148.79. 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 firm's 50-day moving average price is $74.80 and its 200-day moving average price is $87.56. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.66 and a beta of 0.73.

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

About Zoetis

Zoetis Inc is a global animal health company that develops, manufactures and commercializes medicines, vaccines, diagnostic products and related services for livestock and companion animals. Its offerings are used by veterinarians, livestock producers and pet owners to prevent and treat disease, improve animal health and support productivity.

The company's product portfolio includes pharmaceuticals, vaccines, parasiticides, dermatology treatments, diagnostic tests and genetic services.

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