Adage Capital Partners GP L.L.C. Has $56.70 Million Holdings 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. increased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 154.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 344,342 shares of the company's stock after acquiring an additional 209,091 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Zoetis worth $56,696,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. 1248 Management LLC bought a new stake in Zoetis during the first quarter worth approximately $27,000. Saudi Central Bank bought a new position in Zoetis in the first quarter valued at about $29,000. Cornerstone Planning Group LLC raised its position in shares of Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock worth $30,000 after purchasing an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Zoetis by 87.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after purchasing an additional 120 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after purchasing an additional 164 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Zoetis Stock Down 0.6%

Shares of NYSE:ZTS traded down $0.98 during midday trading on Monday, reaching $152.34. The company had a trading volume of 656,803 shares, compared to its average volume of 3,029,046. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The stock's fifty day moving average price is $153.16 and its 200-day moving average price is $157.73. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The stock has a market capitalization of $67.51 billion, a P/E ratio of 26.23, a PEG ratio of 2.46 and a beta of 0.88.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company earned $1.56 earnings per share. Zoetis's quarterly revenue was up 4.2% compared to the same quarter last year. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal 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.