Novem Group Acquires New Holdings in Zoetis Inc. (NYSE:ZTS)

Novem Group bought a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,899 shares of the company's stock, valued at approximately $798,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Zoetis by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock worth $6,739,905,000 after purchasing an additional 120,158 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Zoetis by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company's stock worth $1,726,075,000 after buying an additional 190,137 shares during the period. Polen Capital Management LLC lifted its holdings in Zoetis by 17.5% during the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company's stock worth $1,219,237,000 after buying an additional 1,116,541 shares during the period. Wellington Management Group LLP grew its position in shares of Zoetis by 78.5% in the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock valued at $1,133,755,000 after buying an additional 3,059,255 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Zoetis by 13.3% in the fourth quarter. Northern Trust Corp now owns 6,426,394 shares of the company's stock valued at $1,047,052,000 after buying an additional 755,893 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now owns 11,245 shares of the company's stock, valued at approximately $1,868,244.30. This trade represents a 9.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the sale, the executive vice president now owns 15,781 shares of the company's stock, valued at $2,682,770. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ZTS shares. Piper Sandler lifted their price objective on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. UBS Group lowered their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. StockNews.com raised shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Morgan Stanley decreased their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, Stifel Nicolaus dropped their target price on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $212.75.

Zoetis Trading Down 1.4%

NYSE:ZTS opened at $161.33 on Thursday. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $71.82 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.78 and a beta of 0.94. The firm has a fifty day simple moving average of $156.58 and a two-hundred day simple moving average of $165.05.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.40 by $0.08. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted $1.38 EPS. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal 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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