Harvest Portfolios Group Inc. Buys 20,547 Shares of Zoetis Inc. $ZTS

Key Points

• Harvest Portfolios Group Inc. increased its stake in Zoetis Inc. by 6.5% in Q1, acquiring an additional 20,547 shares, bringing its total holdings to 336,138 shares valued at approximately $55 million.
• In its latest earnings report, Zoetis exceeded expectations with $1.76 earnings per share and $2.46 billion in revenue, indicating a 4.2% increase year-over-year.
• Despite positive earnings, Zoetis' stock has seen mixed analyst ratings, with target prices ranging from $155 to $215 and a consensus rating of "Moderate Buy."

Harvest Portfolios Group Inc. raised its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 336,138 shares of the company's stock after purchasing an additional 20,547 shares during the period. Zoetis accounts for approximately 1.6% of Harvest Portfolios Group Inc.'s holdings, making the stock its 17th biggest position. Harvest Portfolios Group Inc. owned 0.08% of Zoetis worth $55,345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC boosted its stake in Zoetis by 1.8% in the first quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock valued at $612,000 after acquiring an additional 65 shares in the last quarter. Quotient Wealth Partners LLC boosted its stake in Zoetis by 2.3% in the first quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock valued at $521,000 after acquiring an additional 72 shares in the last quarter. Broadway Wealth Solutions Inc. boosted its stake in Zoetis by 4.4% in the first quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock valued at $287,000 after acquiring an additional 73 shares in the last quarter. Menard Financial Group LLC boosted its stake in Zoetis by 3.8% in the first quarter. Menard Financial Group LLC now owns 2,032 shares of the company's stock valued at $305,000 after acquiring an additional 75 shares in the last quarter. Finally, Moseley Investment Management Inc. boosted its stake in Zoetis by 1.4% in the first quarter. Moseley Investment Management Inc. now owns 5,719 shares of the company's stock valued at $942,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

Shares of ZTS opened at $155.1040 on Tuesday. The business's 50-day moving average is $153.66 and its two-hundred day moving average is $158.30. The company has a market capitalization of $68.74 billion, a P/E ratio of 26.70, a P/E/G ratio of 2.51 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 fifty-two week low of $139.70 and a fifty-two week high of $200.33.

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

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president directly owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Leerink Partners downgraded 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 report on Thursday, July 17th. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. UBS Group cut their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and cut their target price for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

About Zoetis

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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