Swedbank AB Trims Stake in Zoetis Inc. $ZTS

Key Points

• Swedbank AB decreased its stake in Zoetis Inc. by 23.1% to hold 1,519,290 shares worth approximately $236.93 million, following the sale of 456,393 shares in the second quarter.
• Several institutional investors, including Alecta Tjanstepension Omsesidigt and Baader Bank Aktiengesellschaft, have increased their holdings in Zoetis during the same period, with Alecta boosting its stake by 24.5%.
• A number of analysts have recently adjusted their ratings and price targets for Zoetis, with the consensus target now set at $200.88, indicating a Moderate Buy rating.

Swedbank AB reduced its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 23.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,519,290 shares of the company's stock after selling 456,393 shares during the period. Swedbank AB owned about 0.34% of Zoetis worth $236,933,000 at the end of the most recent quarter.

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

Zoetis Trading Down 0.9%

Zoetis stock traded down $1.28 during trading on Friday, reaching $145.82. 4,455,824 shares of the company were exchanged, compared to its average volume of 2,273,605. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $197.51. The company has a market capitalization of $64.63 billion, a P/E ratio of 25.10, a PEG ratio of 2.36 and a beta of 0.89. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The stock's 50 day simple moving average is $151.25 and its two-hundred day simple moving average is $156.59.

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

Wall Street Analysts Forecast Growth

ZTS has been the topic of several research reports. 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. Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Argus reiterated a "buy" rating and set a $190.00 price objective on shares of Zoetis in a research report on Tuesday, September 9th. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Finally, Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.