Leading animal health company Zoetis’ (ZTS) wide-ranging portfolio of successful drugs and increased international market penetration have helped the stock gain significantly over the past year. So, given the company's strong financials and the approval of several of its leading products in the international markets, let’s evaluate if this is an opportune time to add the stock to one’s portfolio. Read on.Veterinary drug manufacturer Zoetis Inc . (NYSE:ZTS), in Florham Park, New Jersey, offers vaccines, dermatology products, and point-of-care diagnostic products in the United States and internationally. The company’s innovative pet care portfolio and accelerated sales of diagnostics products have helped the stock gain 38.4% over the past year. Also, as the company continues to receive approvals for its innovative monoclonal antibody therapies and make investments in launching leading products into international markets, it should be able to sustain strong financial performance in the coming quarters.
The stock has gained 22.5% over the past three months and 13.1% year-to-date. Closing yesterday’s session at $187.23, ZTS is trading slightly below its 52-week high of $187.37.
With a substantial uptick in the number of families adopting new pets during the COVID-19 pandemic and increased spending in pet care products, ZTS is well positioned to continue growing. Furthermore, a substantial increase in the sale of livestock products in the international markets should help the company further improve its profit margin.