Edgestream Partners L.P. Takes $2.08 Million Position in Zoetis Inc. (NYSE:ZTS)

Edgestream Partners L.P. purchased a new stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,635 shares of the company's stock, valued at approximately $2,078,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Asset Dedication LLC boosted its holdings in Zoetis by 4.8% in the second 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 last quarter. Forza Wealth Management LLC lifted its stake in shares of Zoetis by 1.8% during the second quarter. Forza Wealth Management LLC now owns 3,313 shares of the company's stock worth $574,000 after purchasing an additional 58 shares in the last quarter. Cherry Creek Investment Advisors Inc. lifted its stake in shares of Zoetis by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company's stock worth $590,000 after purchasing an additional 58 shares in the last quarter. L. Roy Papp & Associates LLP lifted its stake in shares of Zoetis by 2.8% during the second quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company's stock worth $385,000 after purchasing an additional 60 shares in the last quarter. Finally, Grove Bank & Trust lifted its stake in shares of Zoetis by 0.5% during the third quarter. Grove Bank & Trust now owns 11,763 shares of the company's stock worth $2,298,000 after purchasing an additional 61 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Leerink Partnrs upgraded Zoetis to a "strong-buy" rating in a research note on Monday. Argus upgraded Zoetis to a "strong-buy" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Piper Sandler lifted their target price on Zoetis from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Finally, Leerink Partners started coverage on Zoetis in a research report on Monday. They set an "outperform" rating and a $215.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $220.80.

Zoetis Stock Up 0.1 %

Zoetis stock traded up $0.13 during midday trading on Tuesday, hitting $176.94. The stock had a trading volume of 2,678,994 shares, compared to its average volume of 2,545,653. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The stock has a market cap of $79.83 billion, a P/E ratio of 33.26, a P/E/G ratio of 2.71 and a beta of 0.89. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The business has a fifty day moving average price of $183.16 and a 200 day moving average price of $181.01.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Zoetis's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 earnings per share. Research analysts predict that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, October 31st. Zoetis's dividend payout ratio (DPR) is presently 32.52%.

Zoetis 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.