Eventide Asset Management LLC Takes $424,000 Position in Zoetis Inc. $ZTS

Key Points

• Eventide Asset Management LLC purchased 2,597 shares of Zoetis Inc., valued at approximately $424,000, marking a notable new stake in the company during the first quarter.
• Zoetis reported earnings of $1.76 EPS for the last quarter, surpassing analysts' estimates and indicating a 4.2% year-over-year revenue growth to $2.46 billion.
• Analysts have mixed ratings on Zoetis, with a consensus rating of "Moderate Buy" and an average price target of $202.43, revealing differing investment sentiments among brokerages.

Eventide Asset Management LLC purchased a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,597 shares of the company's stock, valued at approximately $424,000.

A number of other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Zoetis by 109.9% in the 1st quarter. AQR Capital Management LLC now owns 616,381 shares of the company's stock worth $100,575,000 after purchasing an additional 322,723 shares during the last quarter. Amundi boosted its position in shares of Zoetis by 30.8% in the 1st quarter. Amundi now owns 3,595,628 shares of the company's stock worth $575,691,000 after purchasing an additional 846,909 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Zoetis by 154.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 344,342 shares of the company's stock worth $56,696,000 after buying an additional 209,091 shares during the period. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its stake in Zoetis by 2.8% during the 1st quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,826 shares of the company's stock worth $795,000 after buying an additional 130 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in Zoetis by 4.9% during the 1st quarter. EP Wealth Advisors LLC now owns 259,118 shares of the company's stock worth $42,664,000 after buying an additional 12,018 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZTS has been the topic of several research analyst reports. Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price target for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, Piper Sandler upped their price target on shares of Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

Zoetis Stock Performance

Zoetis stock traded down $1.44 during mid-day trading on Monday, reaching $151.88. The company's stock had a trading volume of 3,312,971 shares, compared to its average volume of 2,296,223. The firm's fifty day moving average price is $153.16 and its two-hundred day moving average price is $157.73. The company has a market capitalization of $67.31 billion, a P/E ratio of 26.14, a PEG ratio of 2.46 and a beta of 0.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33.

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 analysts' consensus estimates of $1.62 by $0.14. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal 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.