Zoetis (NYSE:ZTS) Stock Price Down 2.7% on Analyst Downgrade

Shares of Zoetis Inc. (NYSE:ZTS) dropped 2.7% during mid-day trading 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 traded 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.

ZTS has been the subject of several other research reports. The Goldman Sachs Group decreased their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Stifel Nicolaus reduced their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, Barclays lowered their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and an average target price of $211.75.

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $173.33, for a total value of $159,983.59. Following the completion of the sale, the executive vice president now owns 15,723 shares in the company, valued at $2,725,267.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 2,209 shares of company stock valued at $371,293 in the last quarter. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Zoetis

Several large investors have recently modified their holdings of ZTS. Hohimer Wealth Management LLC increased its holdings in shares of Zoetis by 1.2% during the fourth quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock valued at $866,000 after acquiring an additional 52 shares in the last quarter. Forum Financial Management LP lifted its stake in shares of 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 period. Angeles Wealth Management LLC increased its position in shares of Zoetis by 3.5% in the 4th quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $324,000 after acquiring an additional 56 shares during the period. Prossimo Advisors LLC raised its stake in Zoetis by 1.7% in the 4th quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock worth $690,000 after acquiring an additional 57 shares during the last quarter. Finally, River Street Advisors LLC lifted its position 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 Down 2.1 %

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

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