Zoetis Inc. $ZTS Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Zoetis Inc. by 4.2% during the second quarter, resulting in ownership of 94,784 shares valued at approximately $14.78 million.
• Zoetis recently reported earnings of $1.76 per share, exceeding the consensus estimate by $0.14, with revenue reaching $2.46 billion, a 4.2% year-over-year increase.
• Analysts have mixed ratings on Zoetis, with five firms issuing a 'Buy' rating and an average target price of $200.88, while maintaining a 'Moderate Buy' overall rating for the stock.

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 94,784 shares of the company's stock after selling 4,163 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Zoetis were worth $14,782,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nova Wealth Management Inc. bought a new stake in Zoetis in the first quarter worth $25,000. 1248 Management LLC purchased a new position in shares of Zoetis during the first quarter valued at approximately $27,000. Saudi Central Bank purchased a new position in shares of Zoetis during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted its position in shares of Zoetis by 79.3% during 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. boosted its position in shares of Zoetis by 87.6% during 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. 92.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and dropped their target price for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Argus restated a "buy" rating and set a $190.00 target price on shares of Zoetis in a research report on Tuesday, September 9th. Finally, Piper Sandler boosted 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. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Zoetis currently has a consensus rating of "Moderate Buy" and an average target price of $200.88.

Zoetis Stock Down 0.9%

Shares of ZTS stock traded down $1.28 during trading hours on Friday, reaching $145.82. 4,455,824 shares of the company's stock were exchanged, compared to its average volume of 2,273,605. The stock's 50 day moving average is $151.25 and its 200-day moving average is $156.52. The company has a market cap of $64.63 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 2.34 and a beta of 0.89. 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 fifty-two week low of $139.70 and a fifty-two week 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 (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 business's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis 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.