Zoetis Inc. (NYSE:ZTS) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its position in shares of Zoetis Inc. (NYSE:ZTS) by 241.7% during the second quarter, Holdings Channel reports. The institutional investor owned 316,545 shares of the company’s stock after buying an additional 223,907 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Zoetis were worth $54,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ZTS. Aveo Capital Partners LLC purchased a new stake in Zoetis in the fourth quarter valued at $225,000. Gryphon Financial Partners LLC increased its holdings in shares of Zoetis by 11.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,056 shares of the company’s stock valued at $601,000 after purchasing an additional 322 shares during the period. Jump Financial LLC purchased a new position in Zoetis during the 4th quarter worth $339,000. Level Four Advisory Services LLC lifted its position in Zoetis by 11.7% in the fourth quarter. Level Four Advisory Services LLC now owns 1,504 shares of the company’s stock valued at $297,000 after purchasing an additional 157 shares during the period. Finally, TrinityPoint Wealth LLC boosted its stake in shares of Zoetis by 0.3% in the fourth quarter. TrinityPoint Wealth LLC now owns 22,319 shares of the company’s stock valued at $4,405,000 after buying an additional 73 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BTIG Research upped their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus upped their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Piper Sandler boosted their price target on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. 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, the stock has a consensus rating of “Buy” and an average price target of $220.38.

Zoetis Price Performance

NYSE ZTS opened at $193.24 on Friday. 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 market capitalization of $88.17 billion, a P/E ratio of 37.23, a P/E/G ratio of 2.98 and a beta of 0.88. The business’s fifty day moving average is $184.42 and its two-hundred day moving average is $174.44.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. On average, research analysts forecast 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.