Zoetis (NYSE:ZTS) Given New $196.00 Price Target at The Goldman Sachs Group

Zoetis (NYSE:ZTS) had its price objective decreased by The Goldman Sachs Group from $223.00 to $196.00 in a research note released on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts also recently issued reports on ZTS. StockNews.com downgraded Zoetis from a strong-buy rating to a buy rating in a research note on Tuesday, February 20th. Stifel Nicolaus cut their price objective on Zoetis from $195.00 to $180.00 and set a buy rating for the company in a research report on Tuesday, April 30th. Piper Sandler restated 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. Finally, Barclays reduced their price objective on Zoetis from $260.00 to $230.00 and set an overweight rating for the company in a research report on Tuesday, April 23rd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $211.75.

Zoetis Stock Performance

ZTS opened at $168.13 on Monday. The company has a market cap of $76.72 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86. The stock has a 50-day moving average of $166.94 and a 200-day moving average of $178.83. Zoetis has a 52-week low of $144.80 and a 52-week high of $201.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33.

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

Insider Activity at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction on Monday, March 18th. The stock was sold at an average price of $173.33, for a total transaction of $159,983.59. Following the completion of the transaction, the executive vice president now directly owns 15,723 shares of the company’s stock, valued at $2,725,267.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 2,209 shares of company stock valued at $371,293 in the last 90 days. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zoetis

Several institutional investors have recently added to or reduced their stakes in ZTS. Blue Bell Private Wealth Management LLC boosted its holdings 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 worth $25,000 after acquiring an additional 89 shares in the last quarter. Webster Bank N. A. grew its holdings in shares of Zoetis by 89.1% during 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 during the last quarter. Independence Bank of Kentucky increased its stake in shares of 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 in the last quarter. Private Wealth Management Group LLC bought a new position in shares of Zoetis in the fourth quarter valued at about $33,000. Finally, Ramirez Asset Management Inc. acquired a new position in Zoetis during the 3rd quarter worth about $35,000. 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.