Wedbush Securities Inc. Has $1.26 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Wedbush Securities Inc. reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 15.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,282 shares of the company’s stock after selling 1,287 shares during the quarter. Wedbush Securities Inc.’s holdings in Zoetis were worth $1,262,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ZTS. Webster Bank N. A. grew its stake in shares of Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Private Wealth Management Group LLC bought a new position in shares of Zoetis during the 4th quarter worth approximately $33,000. Neo Ivy Capital Management bought a new position in shares of Zoetis during the 4th quarter worth approximately $40,000. LRI Investments LLC bought a new position in shares of Zoetis during the 1st quarter worth approximately $43,000. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of Zoetis by 111.6% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 273 shares of the company’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Trading Down 0.2 %

ZTS stock opened at $191.37 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The company has a fifty day moving average price of $181.93 and a two-hundred day moving average price of $174.31. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The stock has a market cap of $86.70 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 2.90 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, topping analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the business posted $1.41 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Zoetis Inc. will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZTS. Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 price target on shares of Zoetis in a research note on Tuesday, August 27th. BTIG Research raised their target price on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Argus raised shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler raised their target price on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Zoetis presently has a consensus 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.