Institute for Wealth Management LLC. Lowers Stock Holdings in Zoetis Inc. $ZTS

Institute for Wealth Management LLC. trimmed its stake in Zoetis Inc. (NYSE:ZTS) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,761 shares of the company’s stock after selling 262 shares during the period. Institute for Wealth Management LLC.’s holdings in Zoetis were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in ZTS. Nova Wealth Management Inc. purchased a new stake in shares of Zoetis in the 1st quarter worth approximately $25,000. 1248 Management LLC purchased a new stake in shares of Zoetis in the 1st quarter worth approximately $27,000. Saudi Central Bank purchased a new stake in shares of Zoetis in the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its position in shares of Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Finally, ORG Partners LLC lifted its position in shares of Zoetis by 56.8% in the 2nd quarter. ORG Partners LLC now owns 232 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZTS. Stifel Nicolaus cut shares of Zoetis from a “buy” rating to a “hold” rating and lowered their price target for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Leerink Partnrs lowered shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Piper Sandler boosted their price objective on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. Argus reiterated a “buy” rating and set a $190.00 price objective on shares of Zoetis in a research note on Tuesday, September 9th. Finally, Leerink Partners lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.88.

Zoetis Trading Down 0.3%

Shares of Zoetis stock opened at $146.46 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. Zoetis Inc. has a 12-month low of $139.34 and a 12-month high of $196.55. The firm has a market capitalization of $64.91 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.36 and a beta of 0.90. The firm’s 50 day simple moving average is $149.89 and its two-hundred day simple moving average is $155.26.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business posted $1.56 EPS. Zoetis’s revenue for the quarter was up 4.2% compared to the same quarter last year. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts predict that Zoetis Inc. will post 6.07 EPS for the current year.

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.