Zoetis, Inc. (NYSE: ZTS) is an animal health company that produces vaccines for pets and livestock. Based in Florham Park, New Jersey, the animal health company was once a subsidiary of Pfizer (PFE) but became independent in February 2013. Bill Ackman (Trades, Portfolio), the philanthropic founder and CEO of Pershing Square Capital Management, bought an 8.5% stake in Zoetis for roughly $2 billion on November 11. Additionally, Zoetis released its third quarter report on November 4, topping analysts' expectations.
Highlights from the Q3 report include a reported $0.41 earnings per share on an adjusted diluted basis, a 21% year-over-year increase. This figure beat the analyst consensus of $0.37 by $0.04. Revenue for the third quarter met the analyst estimate of $1.2 billion; a 10% year-over-year increase. CEO Juan Ramón Alaix attributed the performance to “13% operational revenue growth in our livestock products and continued discipline around our operating expenses.” Continue Reading »