Alecta Tjanstepension Omsesidigt Has $110.66 Million Position in Zoetis Inc. $ZTS

Key Points

• Alecta Tjanstepension Omsesidigt increased its ownership in Zoetis Inc. by 24.5% during the 2nd quarter, bringing its total holdings to around $110.66 million with approximately 709,900 shares.
• Zoetis reported earnings of $1.76 per share for the last quarter, surpassing analysts' expectations of $1.62, and achieved a revenue of $2.46 billion, also exceeding estimates.
• Analyst ratings for Zoetis are mixed, with five analysts rating it as a Buy and four as a Hold, leading to a consensus target price of $200.88.

Alecta Tjanstepension Omsesidigt lifted its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 709,900 shares of the company's stock after buying an additional 139,500 shares during the quarter. Alecta Tjanstepension Omsesidigt owned about 0.16% of Zoetis worth $110,659,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZTS. Nova Wealth Management Inc. purchased a new stake in Zoetis in the 1st quarter valued at $25,000. 1248 Management LLC purchased a new stake in Zoetis in the 1st quarter valued at $27,000. Saudi Central Bank purchased a new stake in Zoetis in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC raised its position in Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Zoetis by 87.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Analysts Set New Price Targets

ZTS has been the subject of several research reports. Piper Sandler upped their price target on shares of 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 shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Argus reissued a "buy" rating and issued a $190.00 price objective on shares of Zoetis in a research note on Tuesday, September 9th. Finally, Leerink Partners cut shares of 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. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $200.88.

Zoetis Price Performance

NYSE ZTS traded down $1.28 on Friday, reaching $145.82. 4,455,824 shares of the stock traded hands, compared to its average volume of 2,273,605. The firm's fifty day simple moving average is $151.25 and its 200 day simple moving average is $156.59. The company has a market cap of $64.63 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 2.34 and a beta of 0.89. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $197.51. 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 earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The firm 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%.Zoetis's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Profile

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.