Zoetis Inc. (NYSE:ZTS) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC lessened its stake in Zoetis Inc. (NYSE:ZTS) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,351 shares of the company’s stock after selling 93 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Zoetis were worth $1,524,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Zoetis in the 4th quarter worth about $824,321,000. Wellington Management Group LLP raised its holdings in Zoetis by 78.5% in the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock worth $1,133,755,000 after purchasing an additional 3,059,255 shares during the period. Raymond James Financial Inc. acquired a new position in Zoetis in the 4th quarter worth about $196,651,000. Polen Capital Management LLC raised its holdings in Zoetis by 17.5% in the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock worth $1,219,237,000 after purchasing an additional 1,116,541 shares during the period. Finally, Capital Research Global Investors acquired a new position in Zoetis in the 4th quarter worth about $178,688,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Morgan Stanley reduced their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Piper Sandler upped their price target on Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday. Barclays boosted their price objective on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus cut their price objective on Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $212.75.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.00, for a total value of $55,420.00. Following the completion of the transaction, the executive vice president now directly owns 15,781 shares in the company, valued at approximately $2,682,770. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Willie M. Reed sold 1,210 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the transaction, the director now owns 11,245 shares of the company’s stock, valued at $1,868,244.30. The trade was a 9.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Zoetis Price Performance

ZTS stock opened at $160.43 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The business has a 50 day simple moving average of $157.03 and a 200-day simple moving average of $165.79. The firm has a market capitalization of $71.42 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. Equities research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal 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.