Public Employees Retirement System of Ohio Has $28.64 Million Stock Position in Zoetis Inc. $ZTS

Key Points

• The Public Employees Retirement System of Ohio decreased its stake in Zoetis Inc. by 2.2%, holding 183,633 shares valued at approximately $28.64 million.
• Zoetis recently reported earnings of $1.76 per share, exceeding estimates, with a revenue increase of 4.2% year-over-year.
• Wall Street analysts have mixed ratings on Zoetis, with a consensus of "Moderate Buy" and a price target around $200.88.

Public Employees Retirement System of Ohio lowered its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,633 shares of the company's stock after selling 4,159 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Zoetis were worth $28,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nova Wealth Management Inc. bought a new stake in Zoetis in the first quarter valued at approximately $25,000. 1248 Management LLC bought a new stake in Zoetis in the first quarter valued at approximately $27,000. Saudi Central Bank bought a new stake in Zoetis in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its stake in Zoetis by 79.3% in the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after buying an additional 88 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in Zoetis by 87.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after buying an additional 120 shares during the period. Institutional investors own 92.80% of the company's stock.

Wall Street Analyst Weigh In

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

Zoetis Price Performance

Zoetis stock opened at $141.65 on Thursday. The company has a market capitalization of $62.78 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.29 and a beta of 0.89. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $197.51. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. The stock's 50 day moving average is $150.63 and its 200-day moving average is $156.07.

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

Zoetis Company 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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