Mirae Asset Global Investments Co. Ltd. Increases Holdings in Zoetis Inc. $ZTS

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Zoetis Inc. by 9.1%, owning 74,738 shares valued at approximately $11.7 million after acquiring 6,230 additional shares in the second quarter.
• Zoetis reported a quarterly earnings per share of $1.76, beating analysts' estimates of $1.62, with a revenue of $2.46 billion, which was higher than the expected $2.41 billion.
• Current consensus ratings for Zoetis stock are mixed, with five analysts rating it as a "Buy" and five as a "Hold," alongside a target price consensus of $200.88.

Mirae Asset Global Investments Co. Ltd. lifted its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,738 shares of the company's stock after purchasing an additional 6,230 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Zoetis were worth $11,655,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Zoetis by 0.5% in the first quarter. Vanguard Group Inc. now owns 41,556,164 shares of the company's stock worth $6,842,222,000 after purchasing an additional 189,287 shares during the last quarter. Polen Capital Management LLC grew its holdings in Zoetis by 17.6% during the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock worth $1,448,401,000 after acquiring an additional 1,313,653 shares during the period. Northern Trust Corp grew its holdings in Zoetis by 1.2% during the first quarter. Northern Trust Corp now owns 6,504,902 shares of the company's stock worth $1,071,032,000 after acquiring an additional 78,508 shares during the period. Goldman Sachs Group Inc. grew its holdings in Zoetis by 2.2% during the first quarter. Goldman Sachs Group Inc. now owns 5,146,024 shares of the company's stock worth $847,293,000 after acquiring an additional 109,791 shares during the period. Finally, Brown Advisory Inc. grew its holdings in Zoetis by 7.6% during the first quarter. Brown Advisory Inc. now owns 4,408,542 shares of the company's stock worth $725,866,000 after acquiring an additional 312,746 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Down 0.0%

Shares of ZTS opened at $146.45 on Friday. 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 stock's 50 day moving average is $149.79 and its two-hundred day moving average is $155.08. The firm has a market cap of $64.91 billion, a P/E ratio of 25.21, a PEG ratio of 2.35 and a beta of 0.90. Zoetis Inc. has a 12 month low of $139.34 and a 12 month high of $196.55.

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

Wall Street Analyst Weigh In

Several research firms recently commented on ZTS. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $180.00 to $155.00 in a report on Thursday, July 17th. Piper Sandler raised their target price on Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and dropped their target price for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Argus reaffirmed a "buy" rating and set a $190.00 target price on shares of Zoetis in a report on Tuesday, September 9th. Finally, Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Zoetis currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.88.

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.

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