Zoetis (ZTS) Stock Rating Lowered by Zacks Investment Research

Zoetis (NYSE:ZTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “Zoetis’ companion animal business performed impressively on higher international sales of Apoquel and Simparica and increased dermatology sales. This growth more than offset the negative impact of the implementation the Veterinary Feed Directive in the United States. Zoetis’ industry leading dermatology portfolio with products like Apoquel and Cytopoint, new oral parasiticide, Simparica, and several other new companion animal products is expected to drive further growth. The acquisition of Nexvet Biopharma will further strengthen Zoetis’ chronic pain management franchise.Shares of Zoetis have outperformed the industry in 2017 in the last six months. However, Zoetis faces stiff competition from companies like Merck Animal Health. Disease outbreak among animals is a material cause of concern for Zoetis’ livestock products.”

ZTS has been the subject of a number of other research reports. BMO Capital Markets set a $65.00 price target on shares of Zoetis and gave the company a “hold” rating in a report on Wednesday, October 25th. BidaskClub upgraded shares of Zoetis from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Cantor Fitzgerald reiterated a “buy” rating and issued a $75.00 price target on shares of Zoetis in a report on Tuesday, October 24th. Cowen set a $80.00 price target on shares of Zoetis and gave the company a “buy” rating in a report on Friday, November 17th. Finally, Morgan Stanley upgraded shares of Zoetis from an “equal weight” rating to an “overweight” rating and set a $80.00 price target for the company in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $70.83.

Shares of Zoetis (ZTS) traded up $0.83 on Friday, hitting $73.36. 2,170,000 shares of the stock were exchanged, compared to its average volume of 1,870,000. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.80 and a quick ratio of 1.95. The stock has a market cap of $35,750.00, a P/E ratio of 38.61, a PEG ratio of 1.89 and a beta of 1.06. Zoetis has a 1-year low of $52.00 and a 1-year high of $73.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Zoetis had a net margin of 18.29% and a return on equity of 62.39%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. equities analysts forecast that Zoetis will post 2.37 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its holdings in Zoetis by 16.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,598 shares of the company’s stock valued at $100,000 after acquiring an additional 230 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Zoetis during the 3rd quarter valued at about $114,000. Harfst & Associates Inc. increased its holdings in Zoetis by 16.1% during the 2nd quarter. Harfst & Associates Inc. now owns 1,878 shares of the company’s stock valued at $117,000 after acquiring an additional 260 shares in the last quarter. Almanack Investment Partners LLC. purchased a new position in Zoetis during the 2nd quarter valued at about $119,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Zoetis by 251.9% during the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,900 shares of the company’s stock worth $121,000 after purchasing an additional 1,360 shares during the last quarter. Hedge funds and other institutional investors own 93.19% of the company’s stock.

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About Zoetis

Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.

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