Precedent Wealth Partners LLC Buys 1,309 Shares of Zoetis Inc. $ZTS

Precedent Wealth Partners LLC boosted its holdings in Zoetis Inc. (NYSE:ZTS) by 19.7% during the second quarter, Holdings Channel.com reports. The firm owned 7,957 shares of the company’s stock after acquiring an additional 1,309 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Zoetis were worth $1,241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Consolidated Investment Group LLC grew its holdings in Zoetis by 59.6% in the second quarter. Consolidated Investment Group LLC now owns 26,235 shares of the company’s stock worth $4,091,000 after purchasing an additional 9,800 shares during the period. Fairvoy Private Wealth LLC purchased a new stake in Zoetis in the second quarter worth about $2,407,000. Franklin Street Advisors Inc. NC grew its holdings in Zoetis by 14.1% in the second quarter. Franklin Street Advisors Inc. NC now owns 106,714 shares of the company’s stock worth $16,642,000 after purchasing an additional 13,211 shares during the period. Ascent Group LLC grew its holdings in Zoetis by 2.0% in the second quarter. Ascent Group LLC now owns 26,806 shares of the company’s stock worth $4,180,000 after purchasing an additional 530 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Zoetis by 6.7% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,107 shares of the company’s stock worth $952,000 after purchasing an additional 383 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZTS. Piper Sandler upped their price objective on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, August 11th. Stifel Nicolaus cut shares of Zoetis from a “buy” rating to a “hold” rating and cut their price target for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Argus reiterated a “buy” rating and set a $190.00 price target on shares of Zoetis in a report on Tuesday, September 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Zoetis in a report on Saturday, September 27th. Finally, Leerink Partnrs cut shares of Zoetis from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Zoetis has an average rating of “Moderate Buy” and a consensus target price of $200.88.

Zoetis Stock Down 0.0%

Shares of Zoetis stock opened at $146.45 on Friday. The company has a market cap of $64.91 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 2.35 and a beta of 0.90. The company’s 50 day moving average is $149.79 and its 200 day moving average is $155.14. Zoetis Inc. has a twelve month low of $139.34 and a twelve month high of $196.55. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

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