Zoetis (NYSE:ZTS) Earns Buy Rating from Analysts at BTIG Research

BTIG Research initiated coverage on shares of Zoetis (NYSE:ZTS) in a research report report published on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $220.00 target price on the stock.

ZTS has been the subject of several other reports. Barclays decreased their price objective on shares of Zoetis from $260.00 to $230.00 and set an overweight rating for the company in a report on Tuesday, April 23rd. Piper Sandler reissued an overweight rating and set a $195.00 price target (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Stifel Nicolaus cut their price objective on Zoetis from $195.00 to $180.00 and set a buy rating for the company in a report on Tuesday, April 30th. HSBC lowered their target price on Zoetis from $230.00 to $225.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group cut their price target on Zoetis from $223.00 to $196.00 and set a buy rating for the company in a research note on Monday, May 6th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $212.67.

Zoetis Price Performance

Shares of NYSE ZTS opened at $179.84 on Thursday. The firm has a market cap of $82.06 billion, a P/E ratio of 34.65, a PEG ratio of 2.81 and a beta of 0.86. Zoetis has a twelve month low of $144.80 and a twelve month high of $201.92. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. The company has a 50 day moving average of $174.51 and a 200 day moving average of $176.16.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. As a group, research analysts expect that Zoetis will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.96%. Zoetis’s dividend payout ratio is currently 33.33%.

Institutional Trading of Zoetis

Several hedge funds have recently made changes to their positions in the business. Blue Bell Private Wealth Management LLC lifted its stake in shares of Zoetis by 222.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. 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 boosted its stake in Zoetis by 371.4% during the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after buying an additional 130 shares during the period. Private Wealth Management Group LLC purchased a new position in Zoetis during the fourth quarter worth $33,000. Finally, Gladius Capital Management LP bought a new position in Zoetis during the fourth quarter valued at $40,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

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.