TCV Trust & Wealth Management Inc. Sells 1,854 Shares of Zoetis Inc. $ZTS

TCV Trust & Wealth Management Inc. cut its position in shares of Zoetis Inc. (NYSE:ZTS) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,893 shares of the company’s stock after selling 1,854 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Zoetis were worth $11,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. purchased a new position in shares of Zoetis in the first quarter worth $25,000. 1248 Management LLC purchased a new position in shares of Zoetis in the first quarter worth $27,000. Saudi Central Bank purchased a new position in shares of Zoetis in the first quarter worth $29,000. Cornerstone Planning Group LLC increased its position in Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company’s stock valued at $42,000 after acquiring an additional 120 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on ZTS shares. Leerink Partnrs cut Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Stifel Nicolaus lowered Zoetis from a “buy” rating to a “hold” rating and dropped their price target for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partners lowered Zoetis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Argus reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Zoetis in a research note on Tuesday, September 9th. Finally, Piper Sandler raised their price objective on Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.88.

Zoetis Trading Up 0.2%

ZTS opened at $147.16 on Friday. The stock’s fifty day moving average is $151.43 and its two-hundred day moving average is $156.76. The company has a market capitalization of $65.22 billion, a P/E ratio of 25.33, a PEG ratio of 2.36 and a beta of 0.89. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the business earned $1.56 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current 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.