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 cut its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 hedge funds have also recently made changes to their positions in the company. Nova Wealth Management Inc. bought a new position in shares of Zoetis in the first quarter worth about $25,000. 1248 Management LLC bought a new stake in shares of Zoetis in the 1st quarter valued at about $27,000. Saudi Central Bank bought a new stake in shares of Zoetis in the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC raised its holdings in shares of Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Zoetis by 87.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after purchasing an additional 120 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Zoetis Stock Performance

ZTS stock traded down $1.28 during trading on Friday, reaching $145.82. The company had a trading volume of 4,455,824 shares, compared to its average volume of 2,273,605. The firm has a 50-day simple moving average of $151.25 and a 200-day simple moving average of $156.59. The company has a market cap of $64.63 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.36 and a beta of 0.89. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $197.51.

Zoetis (NYSE:ZTS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.76 EPS 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 analysts' expectations of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. Zoetis's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the business earned $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current 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.