NorthCrest Asset Manangement LLC Purchases 1,929 Shares of Zoetis Inc. $ZTS

Key Points

• NorthCrest Asset Management LLC increased its position in Zoetis Inc. by 7.3%, acquiring an additional 1,929 shares, leading to total holdings valued at approximately $4.51 million.
• Several hedge funds, including Portside Wealth Group LLC and Tandem Investment Advisors Inc., have also significantly increased their positions in Zoetis, indicating strong institutional interest in the company.
• Zoetis recently reported earnings of $1.76 per share, exceeding analyst expectations, with revenues of $2.46 billion and a forecast for FY 2025 EPS of $6.30-$6.40.

NorthCrest Asset Manangement LLC increased its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 7.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,318 shares of the company's stock after buying an additional 1,929 shares during the period. NorthCrest Asset Manangement LLC's holdings in Zoetis were worth $4,508,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Portside Wealth Group LLC lifted its position in shares of Zoetis by 24.7% in the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock worth $5,550,000 after buying an additional 6,672 shares in the last quarter. Tandem Investment Advisors Inc. lifted its position in shares of Zoetis by 100.3% in the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock worth $65,140,000 after buying an additional 198,089 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Zoetis by 31.2% in the first quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock worth $1,217,000 after buying an additional 1,760 shares in the last quarter. Horizon Financial Services LLC purchased a new stake in shares of Zoetis in the first quarter worth about $380,000. Finally, Sage Rhino Capital LLC lifted its holdings in shares of Zoetis by 117.6% in the 1st quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company's stock valued at $1,155,000 after acquiring an additional 3,791 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of analyst reports. Leerink Partnrs downgraded shares of Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Piper Sandler increased their price target on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Argus reaffirmed a "buy" rating and issued a $190.00 price target on shares of Zoetis in a report on Tuesday, September 9th. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price target for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Finally, Leerink Partners downgraded shares of Zoetis from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Zoetis currently has an average rating of "Moderate Buy" and an average price target of $200.88.

Zoetis Stock Up 0.2%

Shares of NYSE ZTS opened at $147.16 on Friday. 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 company has a market cap of $65.22 billion, a P/E ratio of 25.33, a PEG ratio of 2.36 and a beta of 0.89. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The firm has a 50-day simple moving average of $151.43 and a two-hundred day simple moving average of $156.76.

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

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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