HighTower Advisors LLC Sells 166,492 Shares of Zoetis Inc. $ZTS

Key Points

• HighTower Advisors reduced its Zoetis stake by 39.7% in the second quarter, selling 166,492 shares and retaining 253,412 shares valued at approximately $18.21 million. Institutional investors collectively own 92.8% of the company.
• Analyst sentiment is mixed: JPMorgan and HSBC cut their price targets, while Zacks downgraded the stock to “strong sell.” Zoetis has an overall “hold” consensus rating and an average price target of $101.08.
• Zoetis shares opened at $73.56, near their one-year low, while the company reported quarterly EPS of $1.87, slightly above estimates, but revenue declined 0.2% year over year to $2.47 billion.

HighTower Advisors LLC trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 39.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 253,412 shares of the company's stock after selling 166,492 shares during the period. HighTower Advisors LLC owned about 0.06% of Zoetis worth $18,210,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Prosperity Bancshares Inc acquired a new position in Zoetis during the fourth quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Zoetis during the 1st quarter worth approximately $28,000. Elyxium Wealth LLC bought a new stake in shares of Zoetis during the 4th quarter worth approximately $32,000. Root Financial Partners LLC raised its stake in shares of Zoetis by 66.5% during the 1st quarter. Root Financial Partners LLC now owns 258 shares of the company's stock worth $30,000 after purchasing an additional 103 shares in the last quarter. Finally, Wellington Grp LLC boosted its holdings in shares of Zoetis by 6,675.0% in the 1st quarter. Wellington Grp LLC now owns 271 shares of the company's stock valued at $32,000 after buying an additional 267 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Zoetis from $130.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Argus reiterated a "hold" rating on shares of Zoetis in a research note on Wednesday, May 27th. Zacks Research downgraded shares of Zoetis from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. HSBC lowered their price objective on shares of Zoetis from $140.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Finally, William Blair reaffirmed a "market perform" rating on shares of Zoetis in a report on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $101.08.

Zoetis Stock Down 3.0%

ZTS opened at $73.56 on Wednesday. The stock's fifty day simple moving average is $75.61 and its 200 day simple moving average is $92.87. Zoetis Inc. has a 1-year low of $71.00 and a 1-year high of $152.12. The stock has a market cap of $30.40 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.77 and a beta of 0.73. The company has a current ratio of 3.08, a quick ratio of 1.84 and a debt-to-equity ratio of 2.87.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. Zoetis had a net margin of 27.49% and a return on equity of 74.89%. The firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the business posted $1.76 earnings per share. The company's revenue for the quarter was down .2% compared to the same quarter last year. Zoetis has set its FY 2026 guidance at 6.150-6.250 EPS. As a group, research analysts expect that Zoetis Inc. will post 6.2 earnings per share for the current year.

Zoetis Company Profile

Zoetis Inc NYSE: ZTS is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company's offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.

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