Bahl & Gaynor Inc. Acquires 117,727 Shares of Zoetis Inc. (NYSE:ZTS)

Bahl & Gaynor Inc. lifted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 390.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,904 shares of the company’s stock after purchasing an additional 117,727 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Zoetis were worth $25,641,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ZTS. Vanguard Group Inc. increased its stake in Zoetis by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after acquiring an additional 414,605 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Zoetis by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Capital World Investors increased its position in shares of Zoetis by 0.6% in the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock worth $1,788,988,000 after purchasing an additional 57,798 shares during the period. Norges Bank acquired a new position in Zoetis in the fourth quarter valued at about $980,646,000. Finally, Bank of New York Mellon Corp lifted its position in Zoetis by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock worth $812,695,000 after purchasing an additional 178,303 shares during the period. 92.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ZTS. Stifel Nicolaus reiterated a “buy” rating and set a $200.00 price target on shares of Zoetis in a research report on Tuesday, August 27th. BTIG Research raised their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $217.11.

Zoetis Stock Performance

Shares of Zoetis stock opened at $191.37 on Wednesday. The business’s fifty day simple moving average is $181.93 and its 200 day simple moving average is $174.31. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The firm has a market capitalization of $86.70 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 2.90 and a beta of 0.88.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. As a group, analysts anticipate that Zoetis Inc. will post 5.84 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.