5 Best Pet Stocks To Buy Now

1. Zoetis Inc. (NYSE:ZTS)

Number of Hedge Fund Holders: 62

Zoetis Inc. (NYSE:ZTS) is a New Jersey-based company that develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. Zoetis Inc. (NYSE:ZTS) is one of the premier pet stocks to buy now. On November 8, the company said that it will sell $1.35 billion of senior notes, consisting of $600 million of 5.4% senior notes due 2025 and $750 million of 5.6% senior notes due 2032, in an underwritten public offering. Net proceeds will be used to repay the principal of its 3.25% senior notes due 2023 in the aggregate principal amount of $1.35 billion and the rest for general corporate expenses.

On October 17, investment advisory JPMorgan maintained an Overweight rating on Zoetis Inc. (NYSE:ZTS) but lowered the firm’s price target on the shares to $225 from $250. Analyst Chris Schott issued the ratings update. 

According to Insider Monkey’s data, 62 hedge funds were bullish on Zoetis Inc. (NYSE:ZTS) at the end of September 2022, and William Von Mueffling’s Cantillon Capital Management held the biggest stake in the company, comprising 1.85 million shares worth $275.5 million. 

Here is what Baron Health Care Fund has to say about Zoetis Inc. (NYSE:ZTS) in its Q1 2022 investor letter:

“Shares of Zoetis Inc., the global leader in the discovery, development, and manufacturing of companion and farm animal health medicine and vaccines, fell along with shares of other high-multiple 2021 standout performers. We retain conviction as Zoetis recently reported a top and bottom line beat with more than 21% growth driven by dermatology, parasiticides, and recently launched monoclonal osteoarthritic treatments. The company’s 2022 guidance was in line with Street expectations, calling for 9% to 11% operational revenue growth and modest margin expansion despite heavy investment in core growth drivers.”

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