Thrive Wealth Management LLC Acquires 89 Shares of Zoetis Inc. (NYSE:ZTS)

Thrive Wealth Management LLC boosted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,320 shares of the company’s stock after purchasing an additional 89 shares during the quarter. Thrive Wealth Management LLC’s holdings in Zoetis were worth $1,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZTS. Asset Dedication LLC raised its stake in Zoetis by 4.8% in the 2nd quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock valued at $204,000 after acquiring an additional 54 shares during the period. Angeles Wealth Management LLC raised its position in shares of Zoetis by 3.5% in the fourth quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $324,000 after purchasing an additional 56 shares during the period. Forza Wealth Management LLC lifted its stake in shares of Zoetis by 1.8% during the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after buying an additional 58 shares during the last quarter. L. Roy Papp & Associates LLP boosted its holdings in shares of Zoetis by 2.8% during the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock worth $385,000 after buying an additional 60 shares during the period. Finally, Edge Capital Group LLC grew its stake in Zoetis by 3.7% in the 2nd quarter. Edge Capital Group LLC now owns 1,786 shares of the company’s stock valued at $310,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of NYSE:ZTS traded down $0.96 during midday trading on Friday, hitting $190.03. The stock had a trading volume of 1,421,979 shares, compared to its average volume of 2,576,563. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $86.09 billion, a P/E ratio of 36.61, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89. The company’s 50-day moving average price is $187.30 and its 200-day moving average price is $175.45. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. 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 prior year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts predict that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ZTS shares. BTIG Research raised their price objective 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 boosted their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler boosted their target price on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research 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 company. Based on data from MarketBeat.com, Zoetis presently has an average rating of “Buy” and a consensus target price of $220.38.

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.