Mission Wealth Management LP acquired a new position in Zoetis Inc. (NYSE:ZTS) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,879 shares of the company’s stock, valued at approximately $1,282,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound Income Strategies LLC raised its position in shares of Zoetis by 1,069.2% during the 2nd quarter. Sound Income Strategies LLC now owns 152 shares of the company’s stock worth $28,000 after purchasing an additional 139 shares during the last quarter. WealthShield Partners LLC raised its position in shares of Zoetis by 60.2% during the 2nd quarter. WealthShield Partners LLC now owns 165 shares of the company’s stock worth $31,000 after purchasing an additional 62 shares during the last quarter. Key Financial Inc raised its position in shares of Zoetis by 72.2% during the 2nd quarter. Key Financial Inc now owns 167 shares of the company’s stock worth $34,000 after purchasing an additional 70 shares during the last quarter. Meridian Wealth Partners LLC acquired a new position in shares of Zoetis during the 1st quarter worth about $26,000. Finally, Accel Wealth Management raised its position in shares of Zoetis by 97.0% during the 1st quarter. Accel Wealth Management now owns 197 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.
In other Zoetis news, Director Willie M. Reed sold 1,450 shares of the stock in a transaction on Monday, August 23rd. The shares were sold at an average price of $207.10, for a total transaction of $300,295.00. Following the sale, the director now directly owns 5,964 shares of the company’s stock, valued at $1,235,144.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Roxanne Lagano sold 22,450 shares of the stock in a transaction on Thursday, July 22nd. The stock was sold at an average price of $199.18, for a total transaction of $4,471,591.00. The disclosure for this sale can be found here. Insiders sold 48,003 shares of company stock worth $9,711,854 over the last ninety days. 0.17% of the stock is currently owned by corporate insiders.
Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, August 5th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.11. Zoetis had a net margin of 25.76% and a return on equity of 53.87%. During the same quarter in the prior year, the company earned $0.89 earnings per share. As a group, analysts forecast that Zoetis Inc. will post 4.53 EPS for the current fiscal year.
Several brokerages recently issued reports on ZTS. Barclays upped their price objective on shares of Zoetis from $208.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. Zacks Investment Research upgraded shares of Zoetis from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a report on Tuesday, June 1st. Cantor Fitzgerald increased their target price on shares of Zoetis from $210.00 to $238.00 and gave the stock an “overweight” rating in a report on Tuesday, July 13th. Argus raised their price objective on shares of Zoetis from $195.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, August 25th. Finally, Raymond James lowered shares of Zoetis from an “outperform” rating to a “market perform” rating in a report on Friday, July 16th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $199.08.
Zoetis Company Profile
Zoetis, Inc discovers, develops, and manufactures a portfolio of animal health medicines and vaccines. The firm operates through the following segments: United States &International. Its products are complemented by diagnostic products, genetic tests, bio devices, and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal.
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