Procyon Advisors LLC Lowers Position in Zoetis Inc. $ZTS

Key Points

• Procyon Advisors LLC reduced its stake in Zoetis Inc. by 50.5% in the second quarter, holding 2,253 shares valued at $351,000 after selling 2,299 shares.
• Zoetis reported $1.76 EPS for the last quarter, beating analysts' expectations of $1.62, with quarterly revenue of $2.46 billion, exceeding analyst forecasts of $2.41 billion.
• Analysts have a consensus rating of “Moderate Buy” for Zoetis shares, with an average price target of $200.88, reflecting a mix of buy and hold ratings from multiple research firms.

Procyon Advisors LLC cut its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 50.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,253 shares of the company's stock after selling 2,299 shares during the quarter. Procyon Advisors LLC's holdings in Zoetis were worth $351,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Pallas Capital Advisors LLC increased its position in shares of Zoetis by 45.4% during the 2nd quarter. Pallas Capital Advisors LLC now owns 12,488 shares of the company's stock worth $1,947,000 after purchasing an additional 3,897 shares during the last quarter. Baron Wealth Management LLC boosted its stake in shares of Zoetis by 37.7% in the second quarter. Baron Wealth Management LLC now owns 2,497 shares of the company's stock valued at $389,000 after buying an additional 684 shares during the period. Aaron Wealth Advisors LLC raised its holdings in Zoetis by 5.6% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,446 shares of the company's stock valued at $537,000 after acquiring an additional 182 shares in the last quarter. Balefire LLC acquired a new stake in shares of Zoetis during the 2nd quarter worth $371,000. Finally, New England Research & Management Inc. increased its position in shares of Zoetis by 0.7% in the second quarter. New England Research & Management Inc. now owns 24,788 shares of the company's stock worth $3,866,000 after purchasing an additional 170 shares during the period. Institutional investors own 92.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ZTS shares. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Argus reaffirmed a "buy" rating and set a $190.00 price objective on shares of Zoetis in a research report on Tuesday, September 9th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and lowered their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, Piper Sandler increased their price objective on Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Zoetis presently has an average rating of "Moderate Buy" and an average price target of $200.88.

Zoetis Stock Down 0.4%

ZTS stock traded down $0.61 during trading on Monday, hitting $145.27. 508,882 shares of the stock traded hands, compared to its average volume of 3,023,106. The stock has a market cap of $64.38 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 2.34 and a beta of 0.89. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $197.51. The firm's 50 day moving average is $151.25 and its two-hundred day moving average is $156.45.

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 the consensus estimate of $1.62 by $0.14. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.Zoetis's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.56 earnings per share. 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 EPS for the current year.

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.