MAI Capital Management Raises Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Posted by on Aug 21st, 2023

MAI Capital Management lifted its stake in Zoetis Inc. (NYSE:ZTS – Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,335 shares of the company’s stock after buying an additional 341 shares during the quarter. MAI Capital Management’s holdings in Zoetis were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Zoetis by 430.8% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of Zoetis during the 1st quarter valued at $26,000. IAG Wealth Partners LLC bought a new position in Zoetis in the 4th quarter worth $29,000. HHM Wealth Advisors LLC increased its stake in Zoetis by 1,160.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 189 shares of the company’s stock worth $31,000 after buying an additional 174 shares in the last quarter. Finally, Elequin Securities LLC bought a new stake in Zoetis during the fourth quarter valued at about $32,000. 98.18% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

NYSE:ZTS opened at $181.57 on Monday. The company has a market cap of $83.58 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.92 and a beta of 0.78. Zoetis Inc. has a 1 year low of $124.15 and a 1 year high of $194.99. The stock’s 50 day simple moving average is $176.76 and its two-hundred day simple moving average is $172.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 3.50 and a quick ratio of 1.97.

Zoetis (NYSE:ZTS – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.10. Zoetis had a net margin of 26.92% and a return on equity of 52.02%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. Zoetis’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Zoetis Inc. will post 5.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zoetis news, EVP Robert J. Polzer sold 1,179 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $189.94, for a total transaction of $223,939.26. Following the sale, the executive vice president now directly owns 2,353 shares in the company, valued at $446,928.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ZTS shares. The Goldman Sachs Group upped their price objective on Zoetis from $204.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Piper Sandler upped their price target on Zoetis from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. Finally, StockNews.com initiated coverage on shares of Zoetis in a research report on Thursday. They set a “buy” rating on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus price target of $227.67.

Read Our Latest Analysis on Zoetis

About Zoetis

(Free Report)

Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It 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.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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