Cowen & Co. Believes Zoetis (NYSE: ZTS) Still Has Room to Grow

By Austin Angelo

Cowen & Co. analyst Steve Scala reiterated a Buy rating on Zoetis (NYSE: ZTS) today and set a price target of $70. The company’s shares opened today at $63.45, close to its 52-week high of $63.85.

According to TipRanks.com, Scala is a 3-star analyst with an average return of 5.0% and a 58.1% success rate. Scala covers the Healthcare sector, focusing on stocks such as Johnson & Johnson, Sanofi-Aventis Sa, and Nexvet Biopharma.

Currently, the analyst consensus on Zoetis is Strong Buy and the average price target is $69.57, representing a 9.6% upside.

In a report issued on July 14, Jefferies also reiterated a Buy rating on the stock with a $74 price target.

Zoetis’ market cap is currently $31.13B and has a P/E ratio of 36.83. The company has a book value ratio of 19.3448.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2017, Catherine Knupp, the EVP of ZTS sold 5,785 shares for a total of $348,026.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Zoetis, Inc. discovers, develops and manufactures a portfolio of animal health medicines and vaccines, complemented by diagnostic products, genetic tests, bio devices and services, which are designed to meet the needs of veterinarians and the livestock farmers and companion animal. The company was founded in July 2012 and is headquartered in New York, NY.