Zoetis Inc. $ZTS Holdings Cut by Royal Bank of Canada

Key Points

• The Royal Bank of Canada reduced its stake in Zoetis Inc. by 5.5%, owning approximately 3.25 million shares valued at about $535 million.
• Zoetis reported a quarterly earnings per share (EPS) of $1.76, exceeding analysts' estimates of $1.62, with revenue reaching $2.46 billion, up 4.2% year-over-year.
• Analysts remain mixed on Zoetis's stock, with ratings ranging from "buy" to "hold," and an average price target of $202.43 amidst recent downgrades from several brokerages.

Royal Bank of Canada lowered its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,249,573 shares of the company's stock after selling 188,322 shares during the quarter. Royal Bank of Canada owned about 0.73% of Zoetis worth $535,041,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Portside Wealth Group LLC raised its stake in Zoetis by 24.7% during the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock valued at $5,550,000 after buying an additional 6,672 shares in the last quarter. Tandem Investment Advisors Inc. raised its position in shares of Zoetis by 100.3% during the 1st quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock worth $65,140,000 after purchasing an additional 198,089 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Zoetis by 31.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock worth $1,217,000 after purchasing an additional 1,760 shares during the period. Horizon Financial Services LLC acquired a new stake in shares of Zoetis during the 1st quarter worth approximately $380,000. Finally, Sage Rhino Capital LLC raised its position in shares of Zoetis by 117.6% during the 1st quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company's stock worth $1,155,000 after purchasing an additional 3,791 shares during the period. Institutional investors and hedge funds own 92.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ZTS. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and decreased their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Leerink Partners cut 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 report on Thursday, July 17th. Finally, Piper Sandler raised 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. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

Zoetis Price Performance

NYSE:ZTS traded down $0.05 during trading hours on Friday, reaching $153.15. 1,895,936 shares of the company's stock were exchanged, compared to its average volume of 3,043,297. The company has a market capitalization of $67.87 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The business's 50-day simple moving average is $153.22 and its two-hundred day simple moving average is $157.74.

Zoetis (NYSE:ZTS - Get Free Report) last issued its 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 analysts' expectations of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The company's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side 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.