Zoetis (NYSE:ZTS) Shares Down 2.7% Following Analyst Downgrade

Zoetis Inc. (NYSE:ZTS) shares dropped 2.7% on Wednesday after HSBC lowered their price target on the stock from $230.00 to $225.00. HSBC currently has a buy rating on the stock. Zoetis traded as low as $161.00 and last traded at $163.93. Approximately 1,643,068 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 3,159,670 shares. The stock had previously closed at $168.45.

Other analysts have also issued research reports about the company. Barclays lowered their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Stifel Nicolaus dropped their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. The Goldman Sachs Group reduced their price target on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and an average price target of $211.75.

Insider Activity

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. In the last ninety days, insiders have sold 2,209 shares of company stock worth $371,293. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Zoetis

Several large investors have recently made changes to their positions in ZTS. Hohimer Wealth Management LLC raised its holdings in Zoetis by 1.2% during the 4th quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock worth $866,000 after purchasing an additional 52 shares during the last quarter. Forum Financial Management LP raised its stake in Zoetis by 0.8% during the fourth quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock worth $1,458,000 after buying an additional 56 shares during the last quarter. Angeles Wealth Management LLC lifted its holdings in Zoetis by 3.5% in the fourth quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $324,000 after buying an additional 56 shares during the period. Prossimo Advisors LLC boosted its position in Zoetis by 1.7% during the fourth quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock valued at $690,000 after acquiring an additional 57 shares during the last quarter. Finally, River Street Advisors LLC grew its holdings in Zoetis by 3.4% during the 4th quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock worth $347,000 after acquiring an additional 58 shares during the period. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

The stock has a market capitalization of $75.25 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average price of $167.64 and a two-hundred day moving average price of $178.93.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, equities analysts forecast that Zoetis Inc. will post 5.77 earnings per share 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.