Barclays Lowers Zoetis (NYSE:ZTS) Price Target to $230.00

Zoetis (NYSE:ZTS) had its price target decreased by Barclays from $260.00 to $230.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 54.12% from the company’s current price.

Several other analysts also recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Piper Sandler reissued an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group boosted their price objective on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $218.00.

Zoetis Stock Performance

NYSE:ZTS traded up $3.69 during trading hours on Tuesday, reaching $149.23. The company had a trading volume of 1,612,230 shares, compared to its average volume of 3,031,708. Zoetis has a 52 week low of $144.80 and a 52 week high of $201.92. The firm’s 50 day moving average price is $174.45 and its 200-day moving average price is $179.97. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. The firm has a market cap of $68.25 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.24 and a beta of 0.85.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share 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 analysts’ expectations of $2.19 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. Zoetis’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. On average, analysts forecast that Zoetis will post 5.79 EPS for the current year.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total transaction of $139,529.91. Following the completion of the transaction, the executive vice president now owns 14,800 shares in the company, valued at $2,237,316. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,209 shares of company stock valued at $371,293 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zoetis

A number of hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of Zoetis by 25.1% in the third quarter. International Assets Investment Management LLC now owns 1,726 shares of the company’s stock worth $302,000 after acquiring an additional 346 shares in the last quarter. Capital Investment Advisors LLC raised its position in shares of Zoetis by 38.1% in the third quarter. Capital Investment Advisors LLC now owns 2,263 shares of the company’s stock valued at $394,000 after purchasing an additional 624 shares during the period. Flagship Harbor Advisors LLC bought a new position in Zoetis during the third quarter worth $214,000. DAVENPORT & Co LLC boosted its stake in shares of Zoetis by 1.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 47,327 shares of the company’s stock valued at $8,234,000 after purchasing an additional 558 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Zoetis by 2.8% during the 3rd quarter. Private Trust Co. NA now owns 9,993 shares of the company’s stock worth $1,739,000 after buying an additional 268 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

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.