Glenmede Trust Co. NA Raises Holdings in Zoetis Inc (ZTS)

Glenmede Trust Co. NA grew its position in Zoetis Inc (NYSE:ZTS) by 102.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,038 shares of the company’s stock after buying an additional 22,770 shares during the quarter. Glenmede Trust Co. NA’s holdings in Zoetis were worth $3,837,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Argent Trust Co purchased a new stake in shares of Zoetis in the 2nd quarter worth $230,000. Cypress Capital Group purchased a new stake in shares of Zoetis during the 2nd quarter worth $1,574,000. Qube Research & Technologies Ltd purchased a new stake in shares of Zoetis during the 2nd quarter worth $224,000. HRT Financial LLC purchased a new stake in shares of Zoetis during the 2nd quarter worth $463,000. Finally, Pittenger & Anderson Inc. lifted its stake in shares of Zoetis by 2.2% during the 2nd quarter. Pittenger & Anderson Inc. now owns 84,250 shares of the company’s stock worth $7,177,000 after purchasing an additional 1,775 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

In related news, insider Roxanne Lagano sold 2,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $84.76, for a total transaction of $169,520.00. Following the transaction, the insider now directly owns 22,023 shares of the company’s stock, valued at approximately $1,866,669.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kristin C. Peck sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $86.22, for a total value of $431,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 213,467 shares of company stock worth $19,488,185 over the last ninety days. 0.35% of the stock is currently owned by corporate insiders.

ZTS has been the subject of a number of analyst reports. Stifel Nicolaus cut Zoetis from a “buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a research note on Tuesday, August 21st. They noted that the move was a valuation call. Argus upped their price objective on Zoetis from $90.00 to $103.00 and gave the stock a “buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Monday, September 10th. Jefferies Financial Group set a $96.00 price objective on Zoetis and gave the stock a “buy” rating in a research note on Friday, July 13th. Finally, Cantor Fitzgerald set a $98.00 price objective on Zoetis and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Zoetis has a consensus rating of “Buy” and an average target price of $91.73.

Shares of NYSE:ZTS opened at $90.26 on Wednesday. Zoetis Inc has a 1 year low of $62.79 and a 1 year high of $93.67. The stock has a market cap of $43.28 billion, a P/E ratio of 37.61, a price-to-earnings-growth ratio of 1.70 and a beta of 1.02. The company has a current ratio of 4.38, a quick ratio of 2.92 and a debt-to-equity ratio of 2.50.

Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, August 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.06. Zoetis had a return on equity of 72.30% and a net margin of 19.95%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. research analysts expect that Zoetis Inc will post 3.07 EPS for the current fiscal year.

Zoetis Company Profile

Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.

Read More: Market Capitalization – What it Means for Investors

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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