First Manhattan CO. LLC. Sells 1,969 Shares of Zoetis Inc. $ZTS

Key Points

• First Manhattan CO. LLC sold 1,969 shares of Zoetis Inc., reducing its stake by 8.8%, and now holds 20,393 shares valued at approximately $3.36 million.
• Multiple analysts have adjusted their price targets for Zoetis, with a consensus price of $202.43 and a current rating of "Moderate Buy".
• Zoetis reported $1.76 earnings per share for the latest quarter, exceeding estimates, and expects an EPS of between $6.30 to $6.40 for FY 2025.

First Manhattan CO. LLC. cut its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,393 shares of the company's stock after selling 1,969 shares during the quarter. First Manhattan CO. LLC.'s holdings in Zoetis were worth $3,358,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC acquired a new stake in Zoetis during the first quarter worth about $27,000. Saudi Central Bank acquired a new stake in Zoetis during the first quarter worth about $29,000. Cornerstone Planning Group LLC grew its position 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after buying an additional 120 shares in the last quarter. Finally, Sound Income Strategies LLC increased its stake in Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after acquiring an additional 164 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Price Performance

Shares of NYSE:ZTS traded down $0.05 during trading on Friday, reaching $153.15. The stock had a trading volume of 1,895,936 shares, compared to its average volume of 2,304,532. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The business's 50-day moving average price is $153.16 and its 200 day moving average price is $157.72. The stock has a market capitalization of $67.87 billion, a PE ratio of 26.36, a P/E/G ratio of 2.46 and a beta of 0.89.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results 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 business 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 earnings per share. Zoetis's revenue for the quarter was up 4.2% compared to the same quarter last year. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.