Zoetis (NYSE:ZTS) Given New $243.00 Price Target at Morgan Stanley

Zoetis (NYSE:ZTS) had its target price reduced by Morgan Stanley from $248.00 to $243.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on ZTS. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Stifel Nicolaus dropped their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Leerink Partners started coverage on shares of Zoetis in a report on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price for the company. Finally, UBS Group started coverage on shares of Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target on the stock. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $215.00.

Zoetis Price Performance

Zoetis stock opened at $170.33 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. Zoetis has a one year low of $144.80 and a one year high of $200.53. The company has a market cap of $76.85 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. The business has a fifty day moving average of $169.93 and a two-hundred day moving average of $179.65.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that Zoetis will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s payout ratio is currently 37.59%.

Hedge Funds Weigh In On Zoetis

Several large investors have recently added to or reduced their stakes in ZTS. Atlantic Edge Private Wealth Management LLC boosted its holdings in Zoetis by 482.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Zoetis in the 3rd quarter valued at about $31,000. First Personal Financial Services purchased a new stake in shares of Zoetis during the 3rd quarter worth about $33,000. Capital Performance Advisors LLP acquired a new stake in Zoetis during the 3rd quarter worth approximately $33,000. Finally, Dunhill Financial LLC raised its holdings in Zoetis by 80.6% in the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after buying an additional 75 shares during the period. 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.