Spire Wealth Management Cuts Holdings in Zoetis Inc. (NYSE:ZTS)

Spire Wealth Management trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 16.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,908 shares of the company’s stock after selling 6,768 shares during the period. Spire Wealth Management’s holdings in Zoetis were worth $5,878,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ZTS. Norges Bank purchased a new position in shares of Zoetis during the 4th quarter worth approximately $980,646,000. Price T Rowe Associates Inc. MD increased its stake in Zoetis by 31.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Sarasin & Partners LLP increased its stake in Zoetis by 546.3% in the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after purchasing an additional 1,904,899 shares in the last quarter. Swedbank AB purchased a new position in Zoetis in the 1st quarter valued at approximately $210,815,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in Zoetis in the 4th quarter valued at approximately $242,757,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Up 0.3 %

Shares of NYSE ZTS traded up $0.60 during midday trading on Friday, reaching $183.49. 2,328,501 shares of the company’s stock were exchanged, compared to its average volume of 1,810,009. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The stock has a market capitalization of $83.13 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 2.81 and a beta of 0.86. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The business’s fifty day moving average price is $179.83 and its two-hundred day moving average price is $174.54.

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

Wall Street Analyst Weigh In

ZTS has been the subject of several research analyst reports. Argus raised Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research raised their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group dropped their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Piper Sandler raised their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $200.00 price target on shares of Zoetis in a research report on Tuesday, August 27th. Nine equities 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, Zoetis currently has an average rating of “Buy” and a consensus price target of $217.11.

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.