Oppenheimer Asset Management Inc. Buys 66,872 Shares of Zoetis Inc. (NYSE:ZTS)

Oppenheimer Asset Management Inc. lifted its position in Zoetis Inc. (NYSE:ZTS) by 38.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 241,034 shares of the company’s stock after purchasing an additional 66,872 shares during the period. Oppenheimer Asset Management Inc. owned 0.05% of Zoetis worth $41,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZTS. Wealthspire Advisors LLC grew its holdings in Zoetis by 19.2% during the 2nd quarter. Wealthspire Advisors LLC now owns 5,176 shares of the company’s stock worth $897,000 after acquiring an additional 834 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Zoetis by 13.1% in the 2nd quarter. William Blair Investment Management LLC now owns 1,429,294 shares of the company’s stock worth $247,782,000 after acquiring an additional 165,373 shares in the last quarter. Leelyn Smith LLC lifted its stake in shares of Zoetis by 4.9% during the 2nd quarter. Leelyn Smith LLC now owns 20,780 shares of the company’s stock worth $3,602,000 after purchasing an additional 972 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new position in Zoetis in the second quarter valued at about $474,000. Finally, Parallel Advisors LLC lifted its position in shares of Zoetis by 3.6% during the second quarter. Parallel Advisors LLC now owns 37,761 shares of the company’s stock valued at $6,546,000 after buying an additional 1,320 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. BTIG Research boosted their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Stifel Nicolaus reiterated a “buy” rating and set a $200.00 price objective on shares of Zoetis in a report on Tuesday, August 27th. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler raised their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $217.11.

Zoetis Price Performance

Shares of NYSE ZTS opened at $191.17 on Friday. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The business’s 50 day moving average price is $182.85 and its 200 day moving average price is $174.50. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The firm has a market cap of $86.61 billion, a P/E ratio of 36.83, a P/E/G ratio of 2.92 and a beta of 0.88.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current 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.