Zoetis (NYSE:ZTS) Shares Gap Down – Here’s What Happened

Zoetis Inc. (NYSE:ZTS) gapped down before the market opened on Monday . The stock had previously closed at $181.95, but opened at $176.63. Zoetis shares last traded at $177.10, with a volume of 460,178 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on ZTS shares. Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. BTIG Research lifted their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their target price on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus boosted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Stock Up 0.1 %

The company’s 50-day moving average price is $188.71 and its 200 day moving average price is $179.23. The stock has a market cap of $79.41 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45.

Zoetis (NYSE:ZTS) last released its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 52.59% and a net margin of 26.55%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the business earned $1.36 earnings per share. Zoetis’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Zoetis Inc. will post 5.91 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is 32.52%.

Institutional Investors Weigh In On Zoetis

Institutional investors and hedge funds have recently bought and sold shares of the business. Asset Dedication LLC lifted its position in shares of Zoetis by 4.8% in the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after buying an additional 54 shares in the last quarter. Forza Wealth Management LLC raised its holdings in shares of Zoetis by 1.8% in the second quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after buying an additional 58 shares during the period. Cherry Creek Investment Advisors Inc. raised its holdings in shares of Zoetis by 2.0% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after buying an additional 58 shares during the period. L. Roy Papp & Associates LLP lifted its stake in shares of Zoetis by 2.8% during the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock worth $385,000 after acquiring an additional 60 shares during the last quarter. Finally, Grove Bank & Trust boosted its holdings in Zoetis by 0.5% during the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after acquiring an additional 61 shares during the period. 92.80% of the stock is owned by 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.