Adage Capital Partners GP L.L.C. Has $56.70 Million Stock Position in Zoetis Inc. $ZTS

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Zoetis Inc. by 154.6% in the first quarter, holding 344,342 shares valued at approximately $56.7 million.
• Zoetis' recent quarterly earnings showed EPS of $1.76, exceeding analysts' expectations of $1.62, and the company reported a revenue of $2.46 billion, up 4.2% year-over-year.
• Analysts have mixed ratings for Zoetis, with a consensus rating of "Moderate Buy" and a price target averaging $202.43.

Adage Capital Partners GP L.L.C. raised its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 154.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 344,342 shares of the company's stock after buying an additional 209,091 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.08% of Zoetis worth $56,696,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Zoetis by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 41,556,164 shares of the company's stock valued at $6,842,222,000 after buying an additional 189,287 shares during the last quarter. Polen Capital Management LLC boosted its position in shares of Zoetis by 17.6% in the 1st quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock worth $1,448,401,000 after purchasing an additional 1,313,653 shares during the last quarter. Northern Trust Corp boosted its position in shares of Zoetis by 1.2% in the 1st quarter. Northern Trust Corp now owns 6,504,902 shares of the company's stock worth $1,071,032,000 after purchasing an additional 78,508 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Zoetis by 2.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,146,024 shares of the company's stock worth $847,293,000 after purchasing an additional 109,791 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Zoetis by 7.6% in the 1st quarter. Brown Advisory Inc. now owns 4,408,542 shares of the company's stock worth $725,866,000 after purchasing an additional 312,746 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Zoetis Trading Down 0.0%

Zoetis stock traded down $0.05 during mid-day trading on Friday, hitting $153.15. 1,895,936 shares of the company's stock were exchanged, compared to its average volume of 2,304,532. The company's 50 day simple moving average is $153.16 and its 200-day simple moving average is $157.72. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. The firm has a market capitalization of $67.87 billion, a P/E ratio of 26.36, a PEG ratio of 2.46 and a beta of 0.89. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

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

About Zoetis

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.