Zoetis (NYSE:ZTS) Shares Down 2.7% on Analyst Downgrade

Shares of Zoetis Inc. (NYSE:ZTS) were down 2.7% on Wednesday after HSBC lowered their price target on the stock from $230.00 to $225.00. HSBC currently has a buy rating on the stock. Zoetis traded as low as $161.00 and last traded at $163.93. Approximately 1,643,068 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 3,159,670 shares. The stock had previously closed at $168.45.

Several other research firms have also weighed in on ZTS. The Goldman Sachs Group reduced their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday. Barclays reduced their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Stifel Nicolaus lowered their price objective on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $211.75.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the completion of the sale, the executive vice president now owns 14,800 shares of the company’s stock, valued at approximately $2,237,316. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 2,209 shares of company stock valued at $371,293. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Zoetis

A number of institutional investors have recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC lifted its stake in shares of Zoetis by 222.5% in the 4th 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 holdings in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares in the last quarter. Independence Bank of Kentucky lifted its stake in Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after buying an additional 130 shares during the period. Private Wealth Management Group LLC bought a new position in shares of Zoetis during the 4th quarter worth approximately $33,000. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of Zoetis during the 3rd quarter worth approximately $35,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 2.1 %

The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The firm’s 50 day moving average price is $167.64 and its two-hundred day moving average price is $178.93. The company has a market cap of $75.25 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the company posted $1.31 earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Zoetis Inc. will post 5.77 EPS for the current fiscal year.

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.