T. Rowe Price Investment Management Inc. Has $8.07 Million Position in Zoetis Inc. $ZTS

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its stake in Zoetis Inc. by 1,250.6% in the first quarter, owning 48,986 shares valued at approximately $8.07 million.
• Several other institutional investors also made substantial investments in Zoetis, leading to over 92% of the stock currently being held by hedge funds and institutional entities.
• Zoetis recently reported earnings of $1.76 per share, surpassing analysts' expectations, with a revenue increase of 4.2% year-over-year and guidance set at $6.300-6.400 EPS for FY 2025.

T. Rowe Price Investment Management Inc. increased its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 1,250.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,986 shares of the company's stock after buying an additional 45,359 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in Zoetis were worth $8,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Portside Wealth Group LLC grew its holdings in Zoetis by 24.7% in the 1st quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock worth $5,550,000 after buying an additional 6,672 shares in the last quarter. Tandem Investment Advisors Inc. boosted its stake in Zoetis by 100.3% during the 1st quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock valued at $65,140,000 after purchasing an additional 198,089 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in Zoetis by 31.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock valued at $1,217,000 after purchasing an additional 1,760 shares in the last quarter. Horizon Financial Services LLC bought a new position in Zoetis during the 1st quarter valued at $380,000. Finally, Sage Rhino Capital LLC boosted its stake in Zoetis by 117.6% during the 1st quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company's stock valued at $1,155,000 after purchasing an additional 3,791 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Up 0.4%

Shares of ZTS traded up $0.60 during mid-day trading on Wednesday, reaching $155.39. The company's stock had a trading volume of 1,931,129 shares, compared to its average volume of 3,439,366. The business has a fifty day moving average of $153.53 and a 200 day moving average of $158.26. The company has a market cap of $68.87 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

Zoetis (NYSE:ZTS - Get Free Report) last released its 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. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the company 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. As a group, analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president directly owned 15,129 shares in the company, valued at approximately $2,571,930. This trade represents 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZTS. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and decreased their price target for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Piper Sandler increased their price target on Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. UBS Group reduced their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $202.43.

About Zoetis

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.