On Thursday the Relative Strength (RS) Rating for Zoetis stock shot up from 69 to 76. After taking a hit as the pandemic ended, the animal health products giant is rebounding. Zoetis stock was roughly unchanged Thursday.
The upgraded 76 RS Rating shows that Zoetis stock bested three-fourths of all stocks for price appreciation over the past year.
Zoetis Stock Took A Roller-Coaster Ride
Shares of the Parsippany, N.J.-based company climbed sharply early in the pandemic as more people bought or adopted pets to keep them company at home. Its stock then fell hard as the pandemic was ending and people began to go back to offices and schools. It's on the rise again as things level out post-pandemic.
Among its other key ratings, watchlist candidate Zoetis stock has a strong 83 Composite Rating out of 99. Even better, its 92 Earnings Per Share Rating puts the animal health company among the top 8% of all companies for recent and long-term earnings growth.
Reflecting strong fundamentals, it boasts an A SMR Rating (sales + profit margins + return on equity) on an A-to-E scale with A superb and E dismal. Additionally, its C+ Accumulation/Distribution Rating shows that institutional investors like mutual funds are buying more of its shares than selling.
For its latest quarter, Zoetis reported 12% earnings growth to $1.36 per share on 7% higher revenue of $2.15 billion. The prior quarter EPS grew 18% on 6% higher sales.
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Nearing Fresh Buy Point
Shortly after it went public in 2013, Zoetis stock traded for 33.45. It rose steadily to a 249.27 high at the end of 2021 amid the pandemic pet boom. Then it consolidated, dropping as low as 124.15 in November 2022. From there it turned up, and it closed at 181.93 Thursday afternoon, roughly flat for the day.
Zoetis stock is building a consolidation with a 194.99 buy point. See if it can break out in volume at least 40% higher than normal.
Zoetis earns the No. 2 rank among its peers in the 33-stock Medical-Ethical Drugs industry group. Denmark-based Novo Nordisk is No. 1, and Switzerland-based Novartis is No. 3 among the group's highest-rated stocks.
When researching the best stocks to buy and watch, a stock's price strength vs. all other stocks is a good indicator.
IBD's proprietary Relative Strength Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
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