JPMorgan Chase & Co. Cuts Zoetis (NYSE:ZTS) Price Target to $200.00

Zoetis (NYSE:ZTS) had its price objective lowered by JPMorgan Chase & Co. from $230.00 to $200.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also commented on ZTS. Piper Sandler lifted their price objective on Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Stifel Nicolaus set a $140.00 target price on shares of Zoetis in a research note on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Zoetis in a research note on Wednesday, October 8th. UBS Group cut their price objective on shares of Zoetis from $165.00 to $158.00 and set a “neutral” rating on the stock in a report on Monday, October 20th. Finally, Argus reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Zoetis in a research note on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Zoetis presently has an average rating of “Moderate Buy” and an average target price of $191.00.

Zoetis Stock Performance

ZTS stock opened at $120.20 on Wednesday. The company has a 50 day moving average price of $144.21 and a 200 day moving average price of $152.60. Zoetis has a fifty-two week low of $117.26 and a fifty-two week high of $181.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The stock has a market capitalization of $53.27 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.31 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.42 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts forecast that Zoetis will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, October 31st will be issued a $0.50 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.00 annualized dividend and a yield of 1.7%. Zoetis’s dividend payout ratio (DPR) is 33.67%.

Hedge Funds Weigh In On Zoetis

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nova Wealth Management Inc. acquired a new stake in Zoetis during the 1st quarter worth $25,000. Halbert Hargrove Global Advisors LLC increased its holdings in shares of Zoetis by 496.6% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 144 shares in the last quarter. 1248 Management LLC acquired a new stake in shares of Zoetis during the first quarter worth about $27,000. Saudi Central Bank acquired a new stake in shares of Zoetis during the first quarter worth about $29,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

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.