Verdence Capital Advisors LLC Purchases 3,786 Shares of Zoetis Inc. (NYSE:ZTS)

Verdence Capital Advisors LLC increased its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 53.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,846 shares of the company's stock after purchasing an additional 3,786 shares during the quarter. Verdence Capital Advisors LLC's holdings in Zoetis were worth $1,786,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Navigoe LLC bought a new stake in Zoetis in the fourth quarter worth approximately $30,000. Cornerstone Planning Group LLC boosted its holdings in Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Zoetis in the 4th quarter worth approximately $44,000. Sound Income Strategies LLC increased its position in Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after buying an additional 164 shares in the last quarter. Finally, Bfsg LLC increased its holdings in shares of Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after purchasing an additional 252 shares in the last quarter. Institutional investors own 92.80% of the company's stock.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction 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 in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

Zoetis Stock Performance

Shares of ZTS stock opened at $150.00 on Friday. The company's 50-day simple moving average is $161.00 and its 200-day simple moving average is $161.54. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The stock has a market capitalization of $66.78 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.51 and a beta of 0.91. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business posted $1.38 EPS. The company's revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, July 18th. Zoetis's payout ratio is presently 35.91%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ZTS shares. Piper Sandler boosted their price target on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. UBS Group lowered their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $180.00 to $155.00 in a report on Thursday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $204.63.

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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