Financial Advocates Investment Management Purchases 116 Shares of Zoetis Inc. (NYSE:ZTS)

Financial Advocates Investment Management boosted its position in shares of Zoetis Inc. (NYSE:ZTS) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,251 shares of the company’s stock after buying an additional 116 shares during the quarter. Financial Advocates Investment Management’s holdings in Zoetis were worth $564,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ZTS. Nixon Peabody Trust Co. acquired a new stake in Zoetis during the 2nd quarter worth approximately $458,000. HB Wealth Management LLC lifted its position in Zoetis by 16.8% in the 2nd quarter. HB Wealth Management LLC now owns 8,028 shares of the company’s stock valued at $1,392,000 after acquiring an additional 1,157 shares in the last quarter. Valley Brook Capital Group Inc. boosted its stake in Zoetis by 10.1% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 2,388 shares of the company’s stock worth $414,000 after purchasing an additional 220 shares during the period. Kintegral Advisory LLC bought a new position in Zoetis during the 2nd quarter worth about $5,047,000. Finally, BLB&B Advisors LLC raised its stake in shares of Zoetis by 17.5% in the 2nd quarter. BLB&B Advisors LLC now owns 74,849 shares of the company’s stock valued at $12,976,000 after purchasing an additional 11,153 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

Shares of NYSE:ZTS traded up $0.19 during trading on Thursday, hitting $183.10. 367,736 shares of the company were exchanged, compared to its average volume of 2,675,146. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a market capitalization of $82.95 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 2.78 and a beta of 0.86. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $179.02 and its 200-day moving average is $174.57.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. Zoetis’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Equities analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current year.

Analysts Set New Price Targets

ZTS has been the subject of a number of research reports. Stifel Nicolaus reiterated a “buy” rating and set a $200.00 price objective on shares of Zoetis in a report on Tuesday. HSBC dropped their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group cut their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Piper Sandler upped their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zoetis presently has an average rating of “Buy” and a consensus price target of $217.11.

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.