Zoetis (NYSE:ZTS) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday. They presently have a $70.00 target price on the stock. Morgan Stanley’s target price suggests a potential downside of 16.07% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other equities analysts have also recently commented on ZTS. Jefferies Group set a $97.00 target price on shares of Zoetis and gave the company a “buy” rating in a research report on Monday, February 26th. Barclays set a $77.00 target price on shares of Zoetis and gave the company a “hold” rating in a research report on Saturday, February 17th. Deutsche Bank boosted their target price on shares of Zoetis from $76.00 to $78.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Piper Jaffray Companies set a $88.00 target price on shares of Zoetis and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $86.00 target price (up from $84.00) on shares of Zoetis in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $79.72.
Shares of Zoetis stock opened at $83.40 on Monday. Zoetis has a 12 month low of $52.25 and a 12 month high of $85.54. The company has a quick ratio of 2.55, a current ratio of 3.85 and a debt-to-equity ratio of 2.77. The firm has a market cap of $41,052.46, a PE ratio of 48.34, a price-to-earnings-growth ratio of 1.90 and a beta of 0.97.
In related news, insider Roman Trawicki sold 8,568 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $83.10, for a total transaction of $712,000.80. Following the completion of the transaction, the insider now directly owns 11,457 shares in the company, valued at approximately $952,076.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heidi C. Chen sold 37,453 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $81.02, for a total transaction of $3,034,442.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,569 shares of company stock valued at $8,594,429. 0.31% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ZTS. Raymond James Financial Services Advisors Inc. grew its holdings in Zoetis by 16.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 36,268 shares of the company’s stock worth $2,313,000 after acquiring an additional 5,227 shares during the last quarter. Alps Advisors Inc. bought a new stake in Zoetis during the 3rd quarter worth approximately $459,000. Cambridge Investment Research Advisors Inc. grew its holdings in Zoetis by 13.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,977 shares of the company’s stock worth $891,000 after acquiring an additional 1,692 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Zoetis by 8.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 15,314 shares of the company’s stock worth $976,000 after acquiring an additional 1,183 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Zoetis by 111.5% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 12,478 shares of the company’s stock worth $795,000 after acquiring an additional 6,577 shares during the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.
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Zoetis Company Profile
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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