Campbell Newman Asset Management Inc. Trims Position in Zoetis Inc. $ZTS

Key Points

• Campbell Newman Asset Management Inc. reduced its stake in Zoetis Inc. by 4.6% in Q2, now holding 95,588 shares valued at approximately $14.9 million.
• Zoetis reported better-than-expected earnings with an EPS of $1.76 for the quarter, exceeding estimates by $0.14, alongside a revenue of $2.46 billion.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with a target price of $200.88, amidst various rating adjustments from other firms.

Campbell Newman Asset Management Inc. lowered its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,588 shares of the company's stock after selling 4,660 shares during the quarter. Campbell Newman Asset Management Inc.'s holdings in Zoetis were worth $14,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in shares of Zoetis during the 1st quarter worth approximately $25,000. 1248 Management LLC acquired a new stake in shares of Zoetis during the 1st quarter worth about $27,000. Saudi Central Bank acquired a new position in Zoetis in the first quarter valued at about $29,000. Cornerstone Planning Group LLC boosted its stake in 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 buying an additional 88 shares during the period. Finally, ORG Partners LLC lifted its holdings in shares of Zoetis by 56.8% in the 2nd quarter. ORG Partners LLC now owns 232 shares of the company's stock worth $37,000 after acquiring an additional 84 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

ZTS stock opened at $142.97 on Tuesday. 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 company has a market capitalization of $63.36 billion, a P/E ratio of 24.61, a PEG ratio of 2.30 and a beta of 0.88. The business has a 50 day simple moving average of $150.26 and a 200-day simple moving average of $155.52. Zoetis Inc. has a twelve month low of $139.34 and a twelve month high of $196.55.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on ZTS shares. Argus restated a "buy" rating and issued a $190.00 price objective on shares of Zoetis in a report on Tuesday, September 9th. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and lowered their target price for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Finally, Piper Sandler boosted their price objective on shares of Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Zoetis currently has an average rating of "Moderate Buy" and a consensus target price of $200.88.

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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