State of Alaska Department of Revenue Sells 2,450 Shares of Zoetis Inc. $ZTS

Key Points

• The State of Alaska Department of Revenue reduced its stake in Zoetis Inc. by 4.7%, selling 2,450 shares and holding a total of 50,024 shares now valued at approximately $7.8 million.
• In its latest earnings report, Zoetis reported $1.76 earnings per share, exceeding analysts' estimates, with revenues of $2.46 billion, a 4.2% increase from the previous year.
• Analysts have mixed ratings on Zoetis, with the average target price set at $200.88, and five analysts rating it as a "Buy" while four issued a "Hold" rating.

State of Alaska Department of Revenue trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,024 shares of the company's stock after selling 2,450 shares during the period. State of Alaska Department of Revenue's holdings in Zoetis were worth $7,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Nova Wealth Management Inc. bought a new stake in Zoetis during the first quarter worth approximately $25,000. 1248 Management LLC bought a new stake in shares of Zoetis in the first quarter valued at about $27,000. Saudi Central Bank bought a new position in Zoetis in the first quarter worth about $29,000. Cornerstone Planning Group LLC grew its stake in shares of Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Zoetis by 87.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

ZTS opened at $143.52 on Friday. The firm has a market cap of $63.61 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.30 and a beta of 0.89. The company has a fifty day simple moving average of $150.35 and a 200 day simple moving average of $155.67. 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 Inc. has a twelve month low of $139.34 and a twelve month high of $197.51.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.56 EPS. 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 fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ZTS. Piper Sandler increased 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. Argus reaffirmed a "buy" rating and issued a $190.00 price target on shares of Zoetis in a research note on Tuesday, September 9th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Stifel Nicolaus cut shares of 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 report on Wednesday, June 18th. Finally, Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Zoetis has an average rating of "Moderate Buy" and an average target price of $200.88.

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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