Heathbridge Capital Management Ltd. Takes Position in Zoetis Inc. (NYSE:ZTS)

Heathbridge Capital Management Ltd. purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 63,250 shares of the company’s stock, valued at approximately $10,965,000. Zoetis comprises approximately 4.6% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 11th biggest holding.

Several other large investors have also recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in Zoetis by 40.7% during the 4th quarter. International Assets Investment Management LLC now owns 2,429 shares of the company’s stock valued at $479,000 after acquiring an additional 703 shares during the period. Aveo Capital Partners LLC purchased a new position in Zoetis in the 4th quarter worth $225,000. Gryphon Financial Partners LLC boosted its holdings in Zoetis by 11.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,056 shares of the company’s stock valued at $601,000 after acquiring an additional 322 shares during the period. Jump Financial LLC purchased a new stake in shares of Zoetis during the fourth quarter valued at approximately $339,000. Finally, Avantax Advisory Services Inc. increased its position in shares of Zoetis by 7.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 9,627 shares of the company’s stock valued at $1,900,000 after acquiring an additional 662 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ZTS shares. Argus raised Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research upped their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus reissued a “buy” rating and issued a $200.00 price target on shares of Zoetis in a research report on Tuesday, August 27th. Finally, Piper Sandler lifted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Zoetis currently has a consensus rating of “Buy” and an average price target of $217.11.

Zoetis Stock Performance

Shares of ZTS stock opened at $189.99 on Thursday. 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 company has a 50 day moving average price of $182.22 and a 200-day moving average price of $174.42. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The firm has a market capitalization of $86.07 billion, a PE ratio of 36.61, a P/E/G ratio of 2.90 and a beta of 0.88.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. Zoetis’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts expect that Zoetis Inc. will post 5.84 earnings per share for the current 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.