Prime Capital Investment Advisors LLC Cuts Stock Position in Zoetis Inc. $ZTS

Key Points

• Prime Capital Investment Advisors LLC reduced its shareholding in Zoetis Inc. by 40.5% during Q2, leaving them with 50,205 shares valued at approximately $7.83 million.
• Major institutional changes included new stakes from Litman Gregory Wealth Management and Autumn Glory Partners, indicating ongoing interest in Zoetis, which 92.80% of shares are held by such entities.
• Analysts offer mixed ratings for Zoetis, with a consensus rating of "Moderate Buy" and a target price averaging $200.88, reflecting varied confidence in the company's performance.

Prime Capital Investment Advisors LLC cut its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 40.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,205 shares of the company's stock after selling 34,185 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Zoetis were worth $7,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZTS. Litman Gregory Wealth Management LLC bought a new stake in Zoetis in the second quarter worth about $1,210,000. Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of Zoetis by 15.6% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 2,710 shares of the company's stock worth $423,000 after purchasing an additional 365 shares during the last quarter. Autumn Glory Partners LLC purchased a new stake in shares of Zoetis during the 2nd quarter worth approximately $734,000. PUREfi Wealth LLC raised its holdings in shares of Zoetis by 20.7% in the 2nd quarter. PUREfi Wealth LLC now owns 2,756 shares of the company's stock worth $430,000 after purchasing an additional 473 shares during the period. Finally, Vantage Investment Partners LLC lifted its stake in Zoetis by 0.8% in the second quarter. Vantage Investment Partners LLC now owns 77,103 shares of the company's stock valued at $12,024,000 after purchasing an additional 593 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Zoetis in a research report on Saturday, September 27th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and cut their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Piper Sandler lifted their target price on shares of Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Argus restated a "buy" rating and set a $190.00 price target on shares of Zoetis in a research note on Tuesday, September 9th. Finally, Leerink Partnrs lowered shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $200.88.

Zoetis Price Performance

ZTS stock opened at $145.39 on Tuesday. The firm has a 50 day moving average of $149.68 and a 200-day moving average of $154.90. The firm has a market capitalization of $64.43 billion, a P/E ratio of 25.02, a price-to-earnings-growth 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. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05.

Zoetis (NYSE:ZTS - Get Free Report) last posted its earnings results 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. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the prior year, the company posted $1.56 EPS. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts predict that Zoetis Inc. will post 6.07 earnings per share 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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