Summit Financial LLC Sells 5,897 Shares of Zoetis Inc. $ZTS

Key Points

• Summit Financial LLC has reduced its stake in Zoetis Inc. by 54.2%, selling 5,897 shares, and now holds a total of 4,978 shares valued at approximately $820,000.
• Several analysts have recently downgraded Zoetis’s stock, with Leerink Partners moving its rating from "strong-buy" to "hold", while Piper Sandler increased its target price from $210 to $215, indicating mixed sentiment among analysts.
• Zoetis reported earnings of $1.76 per share for the last quarter, surpassing estimates, with a revenue increase of 4.2% year-over-year, which reflects strong operational performance despite varying analyst ratings.

Summit Financial LLC lowered its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 54.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,978 shares of the company's stock after selling 5,897 shares during the period. Summit Financial LLC's holdings in Zoetis were worth $820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ZTS. Navigoe LLC purchased a new stake in shares of Zoetis in the fourth quarter valued at about $30,000. Cornerstone Planning Group LLC raised its holdings in shares of 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 purchasing an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of 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 purchasing an additional 120 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after purchasing an additional 164 shares during the last quarter. Finally, Bfsg LLC raised its holdings in shares of Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on ZTS shares. Leerink Partnrs downgraded shares of Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Piper Sandler increased their target price on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Leerink Partners downgraded shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. UBS Group reduced their target price on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and reduced their target price for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Zoetis presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president owned 15,129 shares of the company's stock, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company's stock.

Zoetis Price Performance

ZTS opened at $156.3180 on Friday. The company has a market capitalization of $69.28 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.51 and a beta of 0.88. 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 firm has a 50-day moving average price of $153.84 and a 200-day moving average price of $158.52. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33.

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

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