Tritonpoint Wealth LLC Reduces Stake in Zoetis Inc. $ZTS

Key Points

• Tritonpoint Wealth LLC has reduced its stake in Zoetis Inc. by 25.9%, owning 22,171 shares valued at approximately $3.46 million after selling 7,765 shares in the second quarter.
• Several institutional investors, including Nuveen LLC and Mackenzie Financial Corp, have significantly increased their positions in Zoetis, contributing to 92.80% of the company's stock being held by institutional investors.
• Zoetis reported a quarterly earnings per share of $1.76, exceeding estimates, with revenue reaching $2.46 billion for the quarter, showing a 4.2% year-over-year increase.

Tritonpoint Wealth LLC decreased its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 25.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,171 shares of the company's stock after selling 7,765 shares during the quarter. Tritonpoint Wealth LLC's holdings in Zoetis were worth $3,457,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nuveen LLC purchased a new position in Zoetis during the first quarter valued at $616,375,000. Sarasin & Partners LLP purchased a new position in Zoetis during the first quarter valued at $339,111,000. Mackenzie Financial Corp lifted its position in shares of Zoetis by 4,158.3% during the 1st quarter. Mackenzie Financial Corp now owns 1,824,967 shares of the company's stock valued at $300,481,000 after buying an additional 1,782,110 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Zoetis by 14,731.3% during the 1st quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company's stock valued at $289,666,000 after buying an additional 1,747,423 shares in the last quarter. Finally, Polen Capital Management LLC lifted its position in shares of Zoetis by 17.6% during the 1st quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock valued at $1,448,401,000 after buying an additional 1,313,653 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ZTS. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price target for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Piper Sandler lifted 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 cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Argus restated a "buy" rating and issued a $190.00 price objective on shares of Zoetis in a research report on Tuesday, September 9th. Finally, Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and lowered their price objective 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 assigned a Hold rating to the company. Based on data from MarketBeat, Zoetis has an average rating of "Moderate Buy" and a consensus price target of $200.88.

Zoetis Price Performance

NYSE:ZTS opened at $143.52 on Friday. The company has a market capitalization of $63.61 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.30 and a beta of 0.89. Zoetis Inc. has a 12 month low of $139.34 and a 12 month high of $197.51. The business's 50-day moving average is $150.35 and its 200 day moving average is $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 (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.14. The company had revenue of $2.46 billion for 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%. Zoetis's revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

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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