Allworth Financial LP Cuts Holdings in Zoetis Inc. $ZTS

Key Points

• Allworth Financial sharply reduced its Zoetis position by 89.9% in the second quarter, selling 59,150 shares and retaining 6,658 shares valued at approximately $478,000.
• Analyst sentiment is mixed, with eight Buy, nine Hold and two Sell ratings. Zoetis has a consensus rating of Hold and an average price target of $101.08, though several firms recently lowered their targets.
• Zoetis shares opened at $73.64, near their one-year low of $71.00 and well below the one-year high of $149.75. The company slightly exceeded quarterly EPS expectations, but revenue declined 0.2% year over year.

Allworth Financial LP decreased its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 89.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,658 shares of the company's stock after selling 59,150 shares during the period. Allworth Financial LP's holdings in Zoetis were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ZTS. Physician Wealth Advisors Inc. lifted its position in shares of Zoetis by 17.4% during the first quarter. Physician Wealth Advisors Inc. now owns 615 shares of the company's stock valued at $73,000 after buying an additional 91 shares during the last quarter. Smithfield Trust Co raised its stake in shares of Zoetis by 4.2% during the 4th quarter. Smithfield Trust Co now owns 2,294 shares of the company's stock worth $290,000 after acquiring an additional 92 shares in the last quarter. Sapient Capital LLC raised its stake in shares of Zoetis by 4.7% during the 4th quarter. Sapient Capital LLC now owns 2,129 shares of the company's stock worth $269,000 after acquiring an additional 95 shares in the last quarter. Brown Lisle Cummings Inc. lifted its position in Zoetis by 6.3% during the first quarter. Brown Lisle Cummings Inc. now owns 1,621 shares of the company's stock valued at $192,000 after acquiring an additional 96 shares during the last quarter. Finally, Lipe & Dalton lifted its position in Zoetis by 2.2% during the first quarter. Lipe & Dalton now owns 4,698 shares of the company's stock valued at $555,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. 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. BNP Paribas Exane decreased their price objective on Zoetis from $146.00 to $110.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Zacks Research cut Zoetis from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Barclays dropped their target price on Zoetis from $136.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 1st. Finally, Citigroup decreased their price target on Zoetis from $112.00 to $96.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Zoetis presently has a consensus rating of "Hold" and an average target price of $101.08.

Zoetis Stock Performance

Shares of ZTS opened at $73.64 on Tuesday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.84 and a current ratio of 3.08. The stock has a 50-day moving average of $75.53 and a two-hundred day moving average of $91.34. The stock has a market cap of $30.43 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.70 and a beta of 0.73. Zoetis Inc. has a one year low of $71.00 and a one year high of $149.75.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. Zoetis had a return on equity of 74.89% and a net margin of 27.49%.The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company earned $1.76 earnings per share. The company's revenue was down .2% on a year-over-year basis. Zoetis has set its FY 2026 guidance at 6.150-6.250 EPS. As a group, research analysts predict 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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