Banque Pictet & Cie SA Sells 81,177 Shares of Zoetis Inc. $ZTS

Key Points

• Banque Pictet & Cie SA reduced its stake in Zoetis Inc. by 3.1%, selling 81,177 shares, now holding 2,533,842 shares which represent 2.8% of its investment portfolio.
• Several analysts have recently adjusted their ratings on Zoetis, with Leerink Partners downgrading them to "market perform" and setting a new price target of $155.00, while Piper Sandler raised their target to $215.00, maintaining an "overweight" rating.
• Zoetis's latest earnings report showed an EPS of $1.76, exceeding expectations and reflecting a 4.2% revenue increase from the previous year, with future guidance predicting an EPS between 6.300 and 6.400 for FY 2025.

Banque Pictet & Cie SA trimmed its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 3.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,533,842 shares of the company's stock after selling 81,177 shares during the quarter. Zoetis accounts for 2.8% of Banque Pictet & Cie SA's investment portfolio, making the stock its 9th largest holding. Banque Pictet & Cie SA owned 0.57% of Zoetis worth $395,153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Zoetis during the 2nd quarter worth $2,074,000. Perigon Wealth Management LLC raised its position in Zoetis by 0.5% in the second quarter. Perigon Wealth Management LLC now owns 24,201 shares of the company's stock worth $3,774,000 after acquiring an additional 114 shares during the period. Castleview Partners LLC grew its position in shares of Zoetis by 2.7% during the 2nd quarter. Castleview Partners LLC now owns 3,865 shares of the company's stock valued at $603,000 after acquiring an additional 100 shares during the period. Sylvest Advisors LLC purchased a new stake in shares of Zoetis during the 2nd quarter worth approximately $813,000. Finally, Retirement Guys Formula LLC raised its holdings in shares of Zoetis by 10.9% in the 2nd quarter. Retirement Guys Formula LLC now owns 6,180 shares of the company's stock worth $964,000 after purchasing an additional 606 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on ZTS. Leerink Partners downgraded 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 report on Thursday, July 17th. Argus restated a "buy" rating and set a $190.00 price target on shares of Zoetis in a research note on Tuesday, September 9th. Leerink Partnrs lowered 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 lowered their target price for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Finally, Piper Sandler raised their price target on Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $200.88.

Zoetis Stock Down 0.5%

Shares of NYSE:ZTS opened at $141.03 on Friday. Zoetis Inc. has a 12-month low of $139.34 and a 12-month high of $197.51. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. The stock's 50-day moving average price is $150.45 and its 200-day moving average price is $155.86. The stock has a market capitalization of $62.50 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89.

Zoetis (NYSE:ZTS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.62 by $0.14. The firm had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The company's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.56 EPS. 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.

Zoetis Company 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.

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