Meiji Yasuda Life Insurance Co Grows Holdings in Zoetis Inc. (NYSE:ZTS)

Meiji Yasuda Life Insurance Co lifted its position in shares of Zoetis Inc. (NYSE:ZTS) by 94.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,922 shares of the company’s stock after buying an additional 23,225 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Zoetis were worth $8,308,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ZTS. International Assets Investment Management LLC lifted its stake in shares of Zoetis by 40.7% during the 4th quarter. International Assets Investment Management LLC now owns 2,429 shares of the company’s stock worth $479,000 after purchasing an additional 703 shares during the period. Aveo Capital Partners LLC purchased a new position in Zoetis during the fourth quarter worth about $225,000. Gryphon Financial Partners LLC lifted its position in Zoetis by 11.8% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,056 shares of the company’s stock worth $601,000 after buying an additional 322 shares during the period. Jump Financial LLC acquired a new stake in Zoetis in the 4th quarter worth about $339,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Zoetis by 1.1% during the 4th quarter. Panagora Asset Management Inc. now owns 10,717 shares of the company’s stock valued at $2,115,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS stock opened at $195.74 on Wednesday. The firm has a market cap of $88.68 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.98 and a beta of 0.88. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The stock has a 50-day simple moving average of $183.65 and a 200-day simple moving average of $174.15.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share (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 company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $1.41 earnings per share. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts predict that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZTS has been the topic of several research analyst reports. BTIG Research raised their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 price target on shares of Zoetis in a report on Tuesday, August 27th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, Piper Sandler lifted their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and an average target price of $217.11.

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.