Point72 Asia Singapore Pte. Ltd. Invests $2.79 Million in Zoetis Inc. (NYSE:ZTS)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,128 shares of the company's stock, valued at approximately $2,791,000. Zoetis makes up 0.7% of Point72 Asia Singapore Pte. Ltd.'s holdings, making the stock its 27th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZTS. JPMorgan Chase & Co. boosted its holdings in Zoetis by 10.6% in the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company's stock valued at $569,834,000 after purchasing an additional 279,092 shares during the period. Miracle Mile Advisors LLC acquired a new stake in Zoetis in the 4th quarter valued at about $272,000. FNY Investment Advisers LLC purchased a new position in shares of Zoetis in the 4th quarter valued at about $244,000. Marcum Wealth LLC boosted its stake in shares of Zoetis by 5.2% in the 4th quarter. Marcum Wealth LLC now owns 1,386 shares of the company's stock valued at $226,000 after buying an additional 69 shares during the period. Finally, 180 Wealth Advisors LLC grew its position in shares of Zoetis by 22.2% during the fourth quarter. 180 Wealth Advisors LLC now owns 3,716 shares of the company's stock worth $606,000 after buying an additional 674 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Insider Activity

In other news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the completion of the sale, the executive vice president now owns 15,781 shares in the company, valued at approximately $2,682,770. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Willie M. Reed sold 1,210 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the transaction, the director now owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. UBS Group decreased their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Piper Sandler boosted their target price on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday. Stifel Nicolaus cut their price target on Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Barclays lifted their price target on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Zoetis currently has an average rating of "Buy" and an average price target of $212.75.

Zoetis Stock Performance

NYSE ZTS opened at $154.77 on Thursday. The company has a fifty day moving average of $156.72 and a two-hundred day moving average of $165.71. The company has a market capitalization of $68.90 billion, a PE ratio of 28.29, a P/E/G ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 EPS. As a group, analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

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.

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