Piper Sandler Downgrades Zoetis (NYSE:ZTS) to Neutral

Zoetis (NYSE:ZTS) was downgraded by research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat Ratings reports. They currently have a $135.00 price objective on the stock, down from their prior price objective of $190.00. Piper Sandler’s price objective indicates a potential upside of 8.84% from the stock’s current price.

Several other equities research analysts have also recently issued reports on ZTS. KeyCorp initiated coverage on Zoetis in a report on Thursday, November 20th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group upgraded Zoetis to a “buy” rating in a research report on Monday, December 15th. Bank of America cut Zoetis from a “buy” rating to a “neutral” rating and set a $135.00 price target for the company. in a research report on Monday, December 15th. BTIG Research restated a “buy” rating and issued a $160.00 price objective on shares of Zoetis in a report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Zoetis from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Zoetis currently has a consensus rating of “Hold” and a consensus target price of $152.91.

Zoetis Trading Down 0.3%

Shares of NYSE:ZTS opened at $124.04 on Thursday. The business’s 50 day moving average price is $123.58 and its 200-day moving average price is $138.43. Zoetis has a 1 year low of $115.25 and a 1 year high of $177.40. The firm has a market capitalization of $54.66 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 2.16 and a beta of 0.97. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.64 and a quick ratio of 2.28.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.08. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Zoetis had a net margin of 28.21% and a return on equity of 57.19%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities research analysts forecast that Zoetis will post 6.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zoetis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZTS. Halbert Hargrove Global Advisors LLC increased its position in shares of Zoetis by 496.6% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 144 shares during the last quarter. Global Wealth Strategies & Associates purchased a new position in Zoetis during the fourth quarter worth about $25,000. Lodestone Wealth Management LLC acquired a new stake in shares of Zoetis during the fourth quarter valued at about $30,000. REAP Financial Group LLC raised its stake in shares of Zoetis by 201.5% in the 2nd quarter. REAP Financial Group LLC now owns 196 shares of the company’s stock valued at $31,000 after acquiring an additional 131 shares during the period. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Zoetis in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

About Zoetis

Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.