Zoetis Inc. $ZTS Shares Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Zoetis stake by 63.1% in the third quarter, adding 324,847 shares and bringing its holding to 839,570 shares, worth about $58.6 million.
• Zoetis reported quarterly EPS of $1.75, beating the $1.51 consensus, and revenue of $2.39 billion versus $2.30 billion expected; revenue was down 1.3% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $101.25. Zoetis also declared a quarterly dividend of $0.53 per share, equivalent to a 2.6% yield.

Pictet Asset Management Holding SA increased its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 63.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 839,570 shares of the company's stock after purchasing an additional 324,847 shares during the period. Pictet Asset Management Holding SA owned 0.20% of Zoetis worth $58,627,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Valmark Advisers Inc. lifted its position in Zoetis by 7.7% during the 1st quarter. Valmark Advisers Inc. now owns 1,747 shares of the company's stock valued at $207,000 after purchasing an additional 125 shares during the period. Balefire LLC lifted its position in Zoetis by 6.7% in the 1st quarter. Balefire LLC now owns 1,996 shares of the company's stock valued at $236,000 after acquiring an additional 125 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Zoetis by 2.9% during the second quarter. Greenleaf Trust now owns 4,763 shares of the company's stock worth $342,000 after buying an additional 134 shares in the last quarter. Financial Solutions Advisory Group Inc. raised its position in Zoetis by 1.1% in the 3rd quarter. Financial Solutions Advisory Group Inc. now owns 15,697 shares of the company's stock valued at $1,096,000 after buying an additional 170 shares during the last quarter. Finally, 71 West Capital Partners lifted its stake in Zoetis by 6.6% in the 2nd quarter. 71 West Capital Partners now owns 2,823 shares of the company's stock valued at $203,000 after acquiring an additional 175 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Stock Up 3.5%

Shares of ZTS opened at $82.17 on Tuesday. The company has a current ratio of 3.08, a quick ratio of 1.84 and a debt-to-equity ratio of 2.87. Zoetis Inc. has a 12 month low of $68.77 and a 12 month high of $132.49. The firm's 50 day moving average is $75.77 and its 200-day moving average is $92.39. The stock has a market capitalization of $33.95 billion, a PE ratio of 13.97, a P/E/G ratio of 1.32 and a beta of 0.67.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.24. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a net margin of 27.49% and a return on equity of 74.89%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.70 earnings per share. Equities research analysts forecast that Zoetis Inc. will post 6.25 EPS for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, October 30th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, October 30th. This represents a $2.12 annualized dividend and a dividend yield of 2.6%. Zoetis's dividend payout ratio is 36.05%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. BNP Paribas Exane lowered their price target on shares of Zoetis from $146.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Piper Sandler reduced their price objective on shares of Zoetis from $90.00 to $80.00 and set a "neutral" rating for the company in a research note on Monday, August 10th. William Blair downgraded shares of Zoetis from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 6th. The Goldman Sachs Group started coverage on Zoetis in a report on Friday, October 16th. They issued a "neutral" rating and a $74.00 price objective for the company. Finally, BTIG Research dropped coverage on Zoetis in a research report on Friday, October 30th. They set a "buy" rating and a $200.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Zoetis has a consensus rating of "Hold" and a consensus target price of $101.25.

About Zoetis

Zoetis is an animal health company that discovers, develops, manufactures and markets medicines, vaccines, diagnostic products and other services for animals. Its products support both companion animals, such as dogs and cats, and livestock, including cattle, pigs, poultry, sheep and fish.

The company's offerings include treatments for pain, infections and skin conditions, as well as vaccines, parasiticides, diagnostic tools and genetic testing services. Zoetis serves veterinarians, livestock producers and other animal health professionals around the world.

Zoetis originated as Pfizer's animal health business and became an independent public company in 2013.

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