Ieq Capital LLC Sells 491 Shares of Zoetis Inc. (NYSE:ZTS)

Ieq Capital LLC reduced its position in shares of Zoetis Inc. (NYSE:ZTS) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,053 shares of the company’s stock after selling 491 shares during the period. Ieq Capital LLC’s holdings in Zoetis were worth $3,997,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Aveo Capital Partners LLC bought a new stake in shares of Zoetis in the fourth quarter worth $225,000. Gryphon Financial Partners LLC lifted its position in Zoetis by 11.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,056 shares of the company’s stock worth $601,000 after buying an additional 322 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Zoetis during the 4th quarter worth about $339,000. TrinityPoint Wealth LLC grew its holdings in shares of Zoetis by 0.3% in the 4th quarter. TrinityPoint Wealth LLC now owns 22,319 shares of the company’s stock valued at $4,405,000 after acquiring an additional 73 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Zoetis by 8.9% in the fourth quarter. Franklin Resources Inc. now owns 161,489 shares of the company’s stock valued at $31,873,000 after acquiring an additional 13,236 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZTS has been the subject of a number of analyst reports. Stifel Nicolaus raised their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday. Argus raised shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research boosted their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Piper Sandler increased their price target 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 analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $220.38.

Zoetis Price Performance

NYSE:ZTS opened at $192.73 on Friday. The firm’s fifty day moving average price is $184.70 and its two-hundred day moving average price is $174.47. 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 market cap of $87.94 billion, a P/E ratio of 37.13, a P/E/G ratio of 2.98 and a beta of 0.88. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings results 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. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm 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 firm earned $1.41 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Equities analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current year.

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.