Canoe Financial LP Raises Stake in Zoetis Inc. $ZTS

Key Points

• Canoe Financial LP increased its holdings in Zoetis Inc. by an impressive 859.0% in the second quarter, owning 13,369 shares valued at approximately $2.08 million.
• Analysts maintain a generally positive outlook on Zoetis, with a rating of "Moderate Buy" and an average consensus target price of $200.88.
• In the most recent quarter, Zoetis reported $1.76 earnings per share, exceeding expectations and demonstrating a year-over-year revenue growth of 4.2%.

Canoe Financial LP lifted its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 859.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,369 shares of the company's stock after buying an additional 11,975 shares during the period. Canoe Financial LP's holdings in Zoetis were worth $2,085,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Lindbrook Capital LLC grew its position in Zoetis by 1.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock worth $612,000 after purchasing an additional 65 shares during the last quarter. Secure Asset Management LLC grew its position in Zoetis by 2.9% during the 2nd quarter. Secure Asset Management LLC now owns 2,448 shares of the company's stock worth $382,000 after purchasing an additional 68 shares during the last quarter. Quotient Wealth Partners LLC grew its position in Zoetis by 2.3% during the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock worth $521,000 after purchasing an additional 72 shares during the last quarter. Broadway Wealth Solutions Inc. grew its position in Zoetis by 4.4% during the 1st quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock worth $287,000 after purchasing an additional 73 shares during the last quarter. Finally, Menard Financial Group LLC boosted its holdings in shares of Zoetis by 3.8% in the 1st quarter. Menard Financial Group LLC now owns 2,032 shares of the company's stock valued at $305,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Stock Down 0.8%

Shares of ZTS traded down $1.15 during mid-day trading on Monday, hitting $144.73. 2,043,678 shares of the company's stock were exchanged, compared to its average volume of 3,028,237. The company has a market cap of $64.14 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 2.34 and a beta of 0.89. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $197.51. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The stock's 50-day moving average is $151.25 and its 200-day moving average is $156.45.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The company had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter last year, the company earned $1.56 earnings per share. The firm'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, sell-side analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZTS. Leerink Partners cut shares of 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 note on Thursday, July 17th. Piper Sandler boosted their target price on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research note 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. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and decreased their target price for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Argus restated a "buy" rating and set a $190.00 price objective on shares of Zoetis in a research report on Tuesday, September 9th. Five research 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, Zoetis currently has an average rating of "Moderate Buy" and an average price target of $200.88.

Zoetis 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.