Zoetis (NYSE:ZTS) Shares Gap Down – Time to Sell?

Zoetis Inc. (NYSE:ZTS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $173.88, but opened at $161.99. Zoetis shares last traded at $155.57, with a volume of 1,829,505 shares traded.

Analyst Ratings Changes

Several analysts recently issued reports on ZTS shares. Barclays increased their target price on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Morgan Stanley cut their target price on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research report on Friday. Piper Sandler cut their price target on Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, UBS Group initiated coverage on Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target for the company. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $214.90.

Zoetis Trading Down 4.5 %

The stock has a market cap of $71.08 billion, a P/E ratio of 29.61, a P/E/G ratio of 2.77 and a beta of 0.90. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average price of $168.89 and a two-hundred day moving average price of $178.98.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. On average, research analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, April 21st. Zoetis’s dividend payout ratio (DPR) is presently 37.59%.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the sale, the executive vice president now directly owns 16,107 shares in the company, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zoetis

Several hedge funds have recently made changes to their positions in ZTS. AMF Tjanstepension AB lifted its holdings in shares of Zoetis by 23.4% in the 3rd quarter. AMF Tjanstepension AB now owns 105,376 shares of the company’s stock worth $20,594,000 after buying an additional 20,001 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Zoetis by 4,582.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,639 shares of the company’s stock worth $320,000 after purchasing an additional 1,604 shares during the last quarter. Creative Planning lifted its stake in shares of Zoetis by 8.6% during the 3rd quarter. Creative Planning now owns 90,401 shares of the company’s stock worth $17,663,000 after purchasing an additional 7,170 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of Zoetis by 10.4% during the 3rd quarter. Asset Dedication LLC now owns 1,296 shares of the company’s stock worth $253,000 after purchasing an additional 122 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of Zoetis by 18.8% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 8,821 shares of the company’s stock worth $1,723,000 after purchasing an additional 1,393 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

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.