Zoetis (NYSE:ZTS) Shares Up 0.5% Following Earnings Beat

Zoetis Inc. (NYSE:ZTS) shot up 0.5% during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $171.69 and last traded at $168.00. 948,938 shares traded hands during trading, a decline of 70% from the average session volume of 3,153,100 shares. The stock had previously closed at $167.23.

The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.34 by $0.04. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.432 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a yield of 1.03%. Zoetis’s dividend payout ratio is currently 34.12%.

Analyst Ratings Changes

Several brokerages recently weighed in on ZTS. The Goldman Sachs Group raised their price target on shares of Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Barclays reduced their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Stifel Nicolaus reduced their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $216.13.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $173.33, for a total transaction of $159,983.59. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this link. Insiders have sold 2,209 shares of company stock worth $371,293 in the last quarter. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ZTS. Blue Bell Private Wealth Management LLC raised its stake in Zoetis by 222.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after acquiring an additional 89 shares during the period. Webster Bank N. A. raised its position in shares of Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Independence Bank of Kentucky lifted its stake in shares of Zoetis by 371.4% during the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after buying an additional 130 shares in the last quarter. Private Wealth Management Group LLC bought a new position in Zoetis in the 4th quarter worth $33,000. Finally, Ramirez Asset Management Inc. purchased a new stake in Zoetis in the 3rd quarter worth $35,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 0.1 %

The stock has a fifty day simple moving average of $169.48 and a 200 day simple moving average of $178.89. The firm has a market capitalization of $76.41 billion, a P/E ratio of 32.95, a PEG ratio of 2.48 and a beta of 0.86. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32.

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.