Zoetis Inc. (NYSE:ZTS) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund cut its position in Zoetis Inc. (NYSE:ZTS) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,204 shares of the company’s stock after selling 90 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Zoetis were worth $6,796,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Zoetis during the fourth quarter worth about $980,646,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Zoetis by 31.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Sarasin & Partners LLP raised its stake in shares of Zoetis by 546.3% during the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock worth $390,682,000 after purchasing an additional 1,904,899 shares during the last quarter. Swedbank AB acquired a new position in Zoetis in the 1st quarter valued at $210,815,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Zoetis in the 4th quarter worth $242,757,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Zoetis stock opened at $183.57 on Wednesday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The stock’s 50-day moving average is $180.37 and its 200-day moving average is $174.39. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The company has a market cap of $83.17 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 2.81 and a beta of 0.88.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. Equities analysts anticipate that Zoetis Inc. will post 5.84 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on ZTS shares. Stifel Nicolaus reiterated a “buy” rating and set a $200.00 target price on shares of Zoetis in a research report on Tuesday, August 27th. HSBC reduced their target price on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. BTIG Research increased their price target on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus raised shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, Piper Sandler upped their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus price target of $217.11.

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.