Precedent Wealth Partners LLC Grows Stake in Zoetis Inc. $ZTS

Precedent Wealth Partners LLC grew its position in shares of Zoetis Inc. (NYSE:ZTS) by 19.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,957 shares of the company’s stock after purchasing an additional 1,309 shares during the period. Precedent Wealth Partners LLC’s holdings in Zoetis were worth $1,241,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ZTS. Nova Wealth Management Inc. purchased a new position in shares of Zoetis during the 1st quarter valued at $25,000. 1248 Management LLC purchased a new position in shares of Zoetis during the 1st quarter valued at $27,000. Saudi Central Bank purchased a new position in Zoetis in the first quarter worth $29,000. Cornerstone Planning Group LLC grew its position in Zoetis by 79.3% in the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, ORG Partners LLC grew its position in Zoetis by 56.8% in the second quarter. ORG Partners LLC now owns 232 shares of the company’s stock worth $37,000 after acquiring an additional 84 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ZTS shares. Leerink Partners lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Leerink Partnrs lowered shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Piper Sandler upped their target price on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Stifel Nicolaus lowered shares of Zoetis from a “buy” rating to a “hold” rating and cut their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, Argus reissued a “buy” rating and issued a $190.00 price target on shares of Zoetis in a research note on Tuesday, September 9th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Zoetis currently has an average rating of “Moderate Buy” and an average price target of $200.88.

Zoetis Stock Performance

Zoetis stock opened at $146.45 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $64.91 billion, a PE ratio of 25.21, a P/E/G ratio of 2.35 and a beta of 0.90. The firm has a fifty day simple moving average of $149.79 and a two-hundred day simple moving average of $155.14. Zoetis Inc. has a twelve month low of $139.34 and a twelve month high of $196.55.

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