Zoetis Inc. $ZTS Shares Sold by PDT Partners LLC

Key Points

• PDT Partners LLC significantly decreased its holdings in Zoetis Inc. by 64% during the first quarter, reducing their shares from 38,867 to 14,003, valued at approximately $2.3 million.
• Analysts have revised their ratings and price targets for Zoetis, with the consensus now reflecting a "Moderate Buy" and an average price target of $202.43, after several firms downgraded their ratings.
• Zoetis reported earnings of $1.76 per share for the last quarter, exceeding estimates, while also raising its guidance for Fiscal Year 2025 to 6.300-6.400 EPS.

PDT Partners LLC cut its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 64.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,003 shares of the company's stock after selling 24,864 shares during the quarter. PDT Partners LLC's holdings in Zoetis were worth $2,306,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ZTS. Nuveen LLC purchased a new stake in Zoetis during the 1st quarter valued at approximately $616,375,000. Sarasin & Partners LLP purchased a new stake in Zoetis during the 1st quarter valued at approximately $339,111,000. Mackenzie Financial Corp raised its stake in Zoetis by 4,158.3% during the 1st quarter. Mackenzie Financial Corp now owns 1,824,967 shares of the company's stock valued at $300,481,000 after acquiring an additional 1,782,110 shares during the last quarter. GAMMA Investing LLC raised its stake in Zoetis by 14,731.3% during the 1st quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company's stock valued at $289,666,000 after acquiring an additional 1,747,423 shares during the last quarter. Finally, Polen Capital Management LLC raised its stake in Zoetis by 17.6% during the 1st quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock valued at $1,448,401,000 after acquiring an additional 1,313,653 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZTS has been the subject of several analyst reports. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and reduced their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Piper Sandler increased their target price on Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Finally, Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $202.43.

Zoetis Price Performance

NYSE ZTS traded down $0.05 during mid-day trading on Friday, hitting $153.15. The stock had a trading volume of 1,895,936 shares, compared to its average volume of 2,304,532. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The company has a market cap of $67.87 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 2.46 and a beta of 0.89. The company has a 50 day simple moving average of $153.16 and a 200 day simple moving average of $157.72. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

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