Zoetis (NYSE:ZTS) Shares Up 0.5% Following Better-Than-Expected Earnings

Zoetis Inc. (NYSE:ZTS - Get Free Report)'s stock price shot up 0.5% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $171.69 and last traded at $168.00. 948,938 shares were traded during mid-day trading, a decline of 70% from the average session volume of 3,153,100 shares. The stock had previously closed at $167.23.

The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. Zoetis's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 EPS.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis's dividend payout ratio (DPR) is 34.12%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZTS. Piper Sandler reissued an "overweight" rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. StockNews.com downgraded Zoetis from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 20th. The Goldman Sachs Group boosted their price target on Zoetis from $190.00 to $226.00 and gave the company a "buy" rating in a research note on Wednesday, January 17th. Stifel Nicolaus cut their price objective on Zoetis from $195.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Barclays cut their price objective on Zoetis from $260.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 23rd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $216.13.

Insiders Place Their Bets

In other news, EVP Roxanne Lagano sold 923 shares of the company's stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total transaction of $139,529.91. Following the sale, the executive vice president now directly owns 14,800 shares of the company's stock, valued at approximately $2,237,316. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 2,209 shares of company stock worth $371,293 in the last three months. 0.16% of the stock is owned by company insiders.

Institutional Trading of Zoetis

Several hedge funds have recently modified their holdings of ZTS. Blue Bell Private Wealth Management LLC raised its holdings in Zoetis by 222.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company's stock valued at $25,000 after buying an additional 89 shares during the period. Webster Bank N. A. raised its holdings in Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company's stock valued at $29,000 after buying an additional 82 shares during the period. Independence Bank of Kentucky increased its stake in Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 130 shares during the period. Private Wealth Management Group LLC purchased a new stake in Zoetis in the fourth quarter worth $33,000. Finally, Ramirez Asset Management Inc. bought a new position in shares of Zoetis during the 3rd quarter worth $35,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Down 0.1 %

The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. The business has a 50-day moving average price of $169.48 and a 200-day moving average price of $178.89. The firm has a market cap of $76.41 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.48 and a beta of 0.86.

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.