Penobscot Investment Management Company Inc. Decreases Stake in Zoetis Inc. $ZTS

Penobscot Investment Management Company Inc. decreased its position in shares of Zoetis Inc. (NYSE:ZTS) by 1.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,896 shares of the company’s stock after selling 120 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Zoetis were worth $1,387,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ZTS. Sound Income Strategies LLC raised its holdings in Zoetis by 54.3% in the second quarter. Sound Income Strategies LLC now owns 432 shares of the company’s stock valued at $67,000 after acquiring an additional 152 shares in the last quarter. Portside Wealth Group LLC increased its stake in Zoetis by 24.7% in the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company’s stock valued at $5,550,000 after purchasing an additional 6,672 shares during the last quarter. Tandem Investment Advisors Inc. increased its stake in Zoetis by 100.3% in the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company’s stock valued at $65,140,000 after purchasing an additional 198,089 shares during the last quarter. Soros Capital Management LLC increased its stake in Zoetis by 32.0% in the first quarter. Soros Capital Management LLC now owns 17,441 shares of the company’s stock valued at $2,872,000 after purchasing an additional 4,230 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of Zoetis by 31.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company’s stock valued at $1,217,000 after acquiring an additional 1,760 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Down 0.0%

ZTS opened at $146.45 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The stock has a market capitalization of $64.91 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 2.35 and a beta of 0.90. The business has a 50-day moving average of $149.79 and a two-hundred day moving average of $155.14. Zoetis Inc. has a 12 month low of $139.34 and a 12 month high of $196.55.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.62 by $0.14. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Leerink Partners lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Zoetis in a research note on Saturday, September 27th. Stifel Nicolaus downgraded Zoetis from a “buy” rating to a “hold” rating and cut their price target for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Argus reaffirmed a “buy” rating and set a $190.00 price target on shares of Zoetis in a research note on Tuesday, September 9th. Finally, Piper Sandler lifted their price target on Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.88.

Zoetis 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.