Zoetis Inc. $ZTS Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its stake in Zoetis Inc. (NYSE:ZTS) by 5.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,466 shares of the company’s stock after selling 186 shares during the period. Fred Alger Management LLC’s holdings in Zoetis were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Portside Wealth Group LLC raised its holdings in shares of Zoetis by 24.7% in the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company’s stock worth $5,550,000 after buying an additional 6,672 shares during the last quarter. Tandem Investment Advisors Inc. raised its holdings in shares of Zoetis by 100.3% in the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company’s stock worth $65,140,000 after buying an additional 198,089 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Zoetis by 31.2% in the first quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company’s stock worth $1,217,000 after buying an additional 1,760 shares during the last quarter. Horizon Financial Services LLC purchased a new position in shares of Zoetis in the first quarter worth $380,000. Finally, Sage Rhino Capital LLC raised its holdings in shares of Zoetis by 117.6% in the first quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company’s stock worth $1,155,000 after buying an additional 3,791 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Leerink Partnrs cut shares of Zoetis from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Piper Sandler increased their price objective on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. Leerink Partners lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Stifel Nicolaus lowered shares of Zoetis from a “buy” rating to a “hold” rating and cut their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Argus reiterated a “buy” rating and issued a $190.00 price objective on shares of Zoetis in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Zoetis has an average rating of “Moderate Buy” and a consensus target price of $200.88.

Zoetis Stock Down 0.2%

ZTS stock opened at $149.45 on Thursday. The firm has a market cap of $66.24 billion, a PE ratio of 25.72, a P/E/G ratio of 2.40 and a beta of 0.89. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The firm’s fifty day moving average is $152.70 and its 200 day moving average is $157.56. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33.

Zoetis (NYSE:ZTS) last released 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 for the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, research analysts forecast that Zoetis Inc. will post 6.07 EPS 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.