Zoetis (NYSE:ZTS) Shares Gap Up to $146.50

Zoetis Inc. (NYSE:ZTS) shares gapped up before the market opened on Monday . The stock had previously closed at $146.50, but opened at $150.82. Zoetis shares last traded at $146.19, with a volume of 911,429 shares.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price target (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Barclays cut their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group raised their price target on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Stifel Nicolaus cut their price target on Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus price target of $218.00.

Zoetis Price Performance

The stock has a 50 day moving average of $173.78 and a two-hundred day moving average of $179.78. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36. The firm has a market capitalization of $68.40 billion, a P/E ratio of 29.50, a P/E/G ratio of 2.22 and a beta of 0.85.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.08). The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.19 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. Sell-side analysts predict that Zoetis Inc. will post 5.79 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s dividend payout ratio is currently 34.12%.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 363 shares of Zoetis stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $197.74, for a total value of $71,779.62. Following the transaction, the executive vice president now directly owns 20,417 shares of the company’s stock, valued at approximately $4,037,257.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 2,209 shares of company stock valued at $371,293 in the last three months. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Zoetis

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Bell Private Wealth Management LLC increased its position in shares of Zoetis by 222.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Webster Bank N. A. increased its position in shares of Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Moisand Fitzgerald Tamayo LLC increased its position in shares of Zoetis by 105.5% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 187 shares of the company’s stock valued at $33,000 after purchasing an additional 96 shares during the period. Independence Bank of Kentucky increased its position in shares of Zoetis by 371.4% during the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the period. Finally, Private Wealth Management Group LLC bought a new stake in shares of Zoetis during the fourth quarter valued at approximately $33,000. 92.80% of the stock is currently 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.