OLD National Bancorp IN Purchases 31,678 Shares of Zoetis Inc. $ZTS

Key Points

• OLD National Bancorp IN increased its stake in Zoetis Inc. by 1,589.5% during the 2nd quarter, acquiring an additional 31,678 shares, bringing its total holdings to $5,251,000.
• Zoetis reported earnings of $1.76 EPS for the quarter, exceeding estimates, with a revenue of $2.46 billion, reflecting a year-over-year increase of 4.2%.
• Five analysts rated Zoetis with a Buy rating and five with a Hold rating, resulting in a consensus rating of "Moderate Buy" and an average price target of $200.88.

OLD National Bancorp IN boosted its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 1,589.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,671 shares of the company's stock after acquiring an additional 31,678 shares during the period. OLD National Bancorp IN's holdings in Zoetis were worth $5,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in shares of Zoetis by 1.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock worth $612,000 after buying an additional 65 shares during the period. Scott & Selber Inc. grew its holdings in Zoetis by 0.6% during the 2nd quarter. Scott & Selber Inc. now owns 11,652 shares of the company's stock worth $1,817,000 after acquiring an additional 67 shares during the period. Secure Asset Management LLC raised its position in shares of Zoetis by 2.9% during the 2nd quarter. Secure Asset Management LLC now owns 2,448 shares of the company's stock valued at $382,000 after acquiring an additional 68 shares during the last quarter. Quotient Wealth Partners LLC lifted its stake in shares of Zoetis by 2.3% in the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock valued at $521,000 after purchasing an additional 72 shares during the period. Finally, Broadway Wealth Solutions Inc. boosted its position in shares of Zoetis by 4.4% in the 1st quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock worth $287,000 after purchasing an additional 73 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ZTS. Argus reiterated a "buy" rating and issued a $190.00 price objective on shares of Zoetis in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Zoetis in a research note on Saturday, September 27th. 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 research report on Monday, August 11th. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Finally, Leerink Partners downgraded shares of Zoetis from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $200.88.

Zoetis Price Performance

Shares of ZTS opened at $146.45 on Monday. The stock has a 50 day simple moving average of $149.79 and a 200 day simple moving average of $155.02. Zoetis Inc. has a 52-week low of $139.34 and a 52-week high of $196.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The firm has a market capitalization of $64.91 billion, a PE ratio of 25.21, a P/E/G ratio of 2.35 and a beta of 0.90.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.62 by $0.14. The firm had revenue of $2.46 billion for 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 business's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

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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