Truist Financial Corp Buys 2,557 Shares of Zoetis Inc. (NYSE:ZTS)

Truist Financial Corp raised its stake in shares of Zoetis Inc. (NYSE:ZTS) by 1.5% during the second quarter, HoldingsChannel reports. The firm owned 169,202 shares of the company’s stock after buying an additional 2,557 shares during the quarter. Truist Financial Corp’s holdings in Zoetis were worth $29,333,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ZTS. Price T Rowe Associates Inc. MD lifted its position in Zoetis by 31.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after buying an additional 3,244,074 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Zoetis in the 1st quarter worth about $8,831,000. Franklin Street Advisors Inc. NC boosted its stake in shares of Zoetis by 4.3% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 121,024 shares of the company’s stock worth $20,478,000 after purchasing an additional 5,035 shares during the period. Prevail Innovative Wealth Advisors LLC grew its holdings in Zoetis by 24.5% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 18,977 shares of the company’s stock valued at $3,211,000 after purchasing an additional 3,738 shares during the last quarter. Finally, Logan Capital Management Inc. raised its position in Zoetis by 4.1% in the 4th quarter. Logan Capital Management Inc. now owns 117,480 shares of the company’s stock worth $23,187,000 after purchasing an additional 4,643 shares during the period. 92.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ZTS. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. BTIG Research lifted their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus upped their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. 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. According to MarketBeat, Zoetis has an average rating of “Buy” and a consensus target price of $220.38.

Zoetis Price Performance

ZTS opened at $192.49 on Thursday. The company has a market capitalization of $87.83 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.99 and a beta of 0.88. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The business’s fifty day simple moving average is $186.89 and its 200-day simple moving average is $175.21.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the business earned $1.41 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Zoetis Inc. will post 5.84 earnings per share for the current fiscal 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.