5 Healthcare Stocks Making Moves After Earnings

1. Zoetis Inc. (NYSE:ZTS)

Number of Hedge Fund Holders: 67

Zoetis Inc. (NYSE:ZTS) missed profit expectations for the second quarter and lowered its outlook for the full year. As a result, its shares slipped over three percent on Wednesday, August 4, 2022.

The animal health company reported adjusted earnings of $1.20 per share, below the consensus of $1.22 per share. On the bright side, Zoetis Inc. (NYSE:ZTS) posted revenue of $2.05 billion, slightly above the expectations of $2.04 billion.

For fiscal 2022, Zoetis Inc. (NYSE:ZTS) now anticipates adjusted earnings of $4.97 – $5.05 per share and revenue between $8.23 – $8.33 billion. That’s below its previous outlook of $4.99 – $5.09 per share for earnings and $8.23 – $8.38 billion for revenue.

Earlier this year, Zoetis Inc. (NYSE:ZTS) appeared in the first-quarter 2022 investor letter of investment management firm Baron Funds. Here’s what the firm said:

“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.”

You can also take a peek at Top 10 Stock Picks of Cannell Capital and Jim Cramer Recommends These 10 Stocks For Recession.

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