Varma Mutual Pension Insurance Co Has $16.24 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Varma Mutual Pension Insurance Co lifted its stake in Zoetis Inc. (NYSE:ZTS) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 93,658 shares of the company’s stock after acquiring an additional 1,458 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Zoetis were worth $16,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Focus Financial Network Inc. ADV bought a new position in Zoetis during the fourth quarter worth about $2,159,000. Price T Rowe Associates Inc. MD grew its holdings in Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Axiom Investors LLC DE grew its holdings in Zoetis by 36.3% during the fourth quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock worth $117,331,000 after purchasing an additional 158,459 shares during the period. Global Assets Advisory LLC bought a new position in Zoetis during the first quarter worth about $8,831,000. Finally, Franklin Street Advisors Inc. NC grew its holdings in Zoetis by 4.3% during the first quarter. Franklin Street Advisors Inc. NC now owns 121,024 shares of the company’s stock worth $20,478,000 after purchasing an additional 5,035 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $200.00 price target on shares of Zoetis in a report on Tuesday, August 27th. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, BTIG Research boosted their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Zoetis has a consensus rating of “Buy” and a consensus price target of $217.11.

Zoetis Stock Up 1.4 %

Shares of ZTS opened at $189.23 on Monday. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The company has a market cap of $85.73 billion, a P/E ratio of 36.46, a P/E/G ratio of 2.90 and a beta of 0.88. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.45 and a quick ratio of 2.09. The firm has a 50 day simple moving average of $181.22 and a two-hundred day simple moving average of $174.39.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. Research analysts forecast that Zoetis Inc. will post 5.84 EPS for the current fiscal year.

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.