Zoetis (NYSE:ZTS) Stock Price Down 0.4% Following Analyst Downgrade

Zoetis Inc. (NYSE:ZTS) shares traded down 0.4% during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $195.00 to $180.00. Stifel Nicolaus currently has a buy rating on the stock. Zoetis traded as low as $158.04 and last traded at $158.60. 979,969 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 3,120,154 shares. The stock had previously closed at $159.24.

Other equities research analysts have also issued reports about the stock. Barclays lowered their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. The Goldman Sachs Group boosted their price target on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $216.13.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 363 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $197.74, for a total value of $71,779.62. Following the completion of the sale, the executive vice president now directly owns 20,417 shares in the company, valued at $4,037,257.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 2,209 shares of company stock worth $371,293. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Zoetis

Several large investors have recently made changes to their positions in ZTS. Prosperity Consulting Group LLC grew its stake in shares of Zoetis by 20.7% during the 1st quarter. Prosperity Consulting Group LLC now owns 2,073 shares of the company’s stock worth $351,000 after acquiring an additional 356 shares in the last quarter. Braun Stacey Associates Inc. boosted its position in shares of Zoetis by 4.4% in the first quarter. Braun Stacey Associates Inc. now owns 95,661 shares of the company’s stock valued at $16,187,000 after acquiring an additional 4,070 shares during the period. Mission Wealth Management LP boosted its position in shares of Zoetis by 33.0% in the first quarter. Mission Wealth Management LP now owns 3,439 shares of the company’s stock valued at $582,000 after acquiring an additional 853 shares during the period. DORCHESTER WEALTH MANAGEMENT Co lifted its position in Zoetis by 2.0% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 15,226 shares of the company’s stock worth $2,576,000 after purchasing an additional 300 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in Zoetis during the first quarter worth about $3,877,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

The company’s 50-day moving average is $170.66 and its two-hundred day moving average is $179.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. The firm has a market cap of $72.54 billion, a P/E ratio of 31.28, a PEG ratio of 2.44 and a beta of 0.85.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the business earned $1.15 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Zoetis Inc. will post 5.78 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, April 18th. Zoetis’s dividend payout ratio (DPR) is currently 34.12%.

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.