Steven Cohen increases stake in Zoetis Inc. (NYSE:ZTS)
Zoetis, Inc. (NYSE:ZTS), a global manufacturer of more than 300 vaccine products and medicines for animals in around 120 countries, operates in two major business segments, namely in the livestock segment and the companion animal segment, as a fully independent publicly-traded company after the recent share exchange with the former parent Pfizer Inc.
Zoetis, Inc. (NYSE:ZTS) has always been part of the portfolios of many famous investors including George Soros, Paul Tudor Jones and Jean-Marie Eveillard. Steven Cohen, who is managing more than $20.7 billion in total assets, significantly increased his holding in the Zoetis, Inc. (NYSE:ZTS), from the earlier level of 727,000 to more than 7.6 million shares recently. In the first quarter of 2013, Zoetis, Inc. (NYSE:ZTS) experienced growth on both top and bottom lines which are higher than first year quarter of 2012. Revenue increased by 4% over the previous quarter, while net income increased by 26%.
Shares of Zoetis, Inc. (NYSE:ZTS) closed higher at $30.98 per share on Tuesday, recording a gain of 0.81 percent over the previous closing price. The shares of the company are currently fluctuating with intraday movements in the range of $30.94 to $31.40 per share, after opening at $31.12 per share. The shares of Zoetis, Inc. (NYSE:ZTS) recorded a 52-week low price of $28.97 per share and a 52-week high price of $35.42 per share.
Zoetis, Inc. (NYSE:ZTS) had a trading volume of 8.70 million shares on Tuesday, with an average trading volume of 12.83 million shares per day. The company currently has 500 million shares outstanding in the market and a market capitalization of $15.60 billion. Institutional ownership in Zoetis, Inc. (NYSE:ZTS) is 21 percent of its total equity capital.