Comerica Bank Sells 11,176 Shares of Zoetis Inc. $ZTS

Key Points

• Comerica Bank reduced its stake in Zoetis Inc. by 5.5%, now holding 192,939 shares after selling 11,176 shares worth approximately $31.77 million.
• Multiple institutional investors, including Portside Wealth Group and Tandem Investment Advisors, increased their stakes in Zoetis significantly during the same period.
• Analysts have issued mixed ratings on Zoetis, with price targets ranging from $155 to $215, indicating varying levels of confidence in the stock's future performance.

Comerica Bank trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 192,939 shares of the company's stock after selling 11,176 shares during the period. Comerica Bank's holdings in Zoetis were worth $31,767,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Portside Wealth Group LLC grew its stake in Zoetis by 24.7% during the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock valued at $5,550,000 after acquiring an additional 6,672 shares in the last quarter. Tandem Investment Advisors Inc. grew its stake in Zoetis by 100.3% during the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock valued at $65,140,000 after acquiring an additional 198,089 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in Zoetis by 31.2% during the first quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock valued at $1,217,000 after acquiring an additional 1,760 shares in the last quarter. Horizon Financial Services LLC purchased a new position in Zoetis during the first quarter valued at $380,000. Finally, Sage Rhino Capital LLC grew its stake in Zoetis by 117.6% during the first quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company's stock valued at $1,155,000 after acquiring an additional 3,791 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president owned 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group cut their target price on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and cut their target price for the company from $180.00 to $155.00 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 stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Piper Sandler lifted their price objective on shares of Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Finally, Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.43.

Zoetis Price Performance

ZTS stock opened at $156.3180 on Monday. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. 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 50-day moving average price of $153.84 and a 200 day moving average price of $158.41. The stock has a market cap of $69.28 billion, a PE ratio of 26.91, a P/E/G ratio of 2.51 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 for the quarter, beating analysts' consensus estimates of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business posted $1.56 EPS. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current 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.

Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.