Modera Wealth Management LLC Increases Stake in Zoetis Inc. (NYSE:ZTS)

Modera Wealth Management LLC boosted its stake in Zoetis Inc. (NYSE:ZTS) by 20.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,424 shares of the company’s stock after purchasing an additional 4,517 shares during the quarter. Modera Wealth Management LLC’s holdings in Zoetis were worth $5,163,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prevail Innovative Wealth Advisors LLC grew its stake in shares of 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 buying an additional 3,738 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in Zoetis by 58.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,931 shares of the company’s stock worth $7,095,000 after purchasing an additional 15,491 shares in the last quarter. Duality Advisers LP increased its position in Zoetis by 43.7% during the 1st quarter. Duality Advisers LP now owns 40,641 shares of the company’s stock worth $6,877,000 after purchasing an additional 12,359 shares in the last quarter. M&G Plc purchased a new position in Zoetis in the first quarter valued at approximately $19,819,000. Finally, Cetera Investment Advisers lifted its position in Zoetis by 275.2% during the first quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock valued at $16,259,000 after buying an additional 70,476 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of NYSE ZTS opened at $180.01 on Monday. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The business has a 50 day moving average price of $189.10 and a two-hundred day moving average price of $177.89. The firm has a market cap of $81.55 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. Sell-side analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 annualized dividend and a dividend yield of 0.96%. Zoetis’s payout ratio is 33.86%.

Analyst Upgrades and Downgrades

ZTS has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. BTIG Research increased their price target on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Piper Sandler boosted their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $221.44.

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.