Picton Mahoney Asset Management Raises Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Picton Mahoney Asset Management lifted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,237 shares of the company’s stock after acquiring an additional 1,370 shares during the period. Picton Mahoney Asset Management’s holdings in Zoetis were worth $16,825,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Verdence Capital Advisors LLC grew its holdings in shares of Zoetis by 12.2% during the third quarter. Verdence Capital Advisors LLC now owns 2,791 shares of the company’s stock worth $486,000 after buying an additional 303 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Zoetis by 9.3% in the 3rd quarter. Brighton Jones LLC now owns 2,783 shares of the company’s stock valued at $484,000 after purchasing an additional 237 shares during the last quarter. Value Partners Investments Inc. increased its holdings in shares of Zoetis by 7.1% in the third quarter. Value Partners Investments Inc. now owns 6,850 shares of the company’s stock valued at $1,197,000 after purchasing an additional 455 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Zoetis by 0.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,648 shares of the company’s stock worth $30,938,000 after purchasing an additional 1,054 shares during the last quarter. Finally, NBT Bank N A NY acquired a new stake in shares of Zoetis during the third quarter worth $1,832,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday. Stifel Nicolaus cut their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Piper Sandler reissued an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Finally, Barclays decreased their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis has a consensus rating of “Buy” and an average target price of $212.38.

Insider Activity at Zoetis

In other news, EVP Roxanne Lagano sold 363 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $197.74, for a total transaction of $71,779.62. Following the completion of the transaction, the executive vice president now directly owns 20,417 shares of the company’s stock, valued at approximately $4,037,257.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 2,209 shares of company stock valued at $371,293. Insiders own 0.16% of the company’s stock.

Zoetis Price Performance

Shares of ZTS stock traded up $2.50 during midday trading on Tuesday, reaching $168.45. 3,318,087 shares of the company traded hands, compared to its average volume of 3,179,154. The firm has a market cap of $76.86 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.62 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The firm’s 50 day simple moving average is $167.64 and its two-hundred day simple moving average is $178.93. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the business earned $1.31 earnings per share. Zoetis’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts expect that Zoetis Inc. will post 5.77 EPS for the current fiscal year.

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.