Zoetis (ZTS) Reported Solid Quarterly Results

Baron Funds, an investment management company, released its “Baron Health Care Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund advanced 7.69% (Institutional Shares) in the quarter compared to a 6.96% gain for the Russell 3000 Health Care Index and an 11.69% increase for the S&P 500 Index. For the full year, the fund increased 6.42%, compared to 2.87% and 26.29% returns for the indexes, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Baron Health Care Fund featured stocks such as Zoetis Inc. (NYSE:ZTS) in the fourth quarter 2023 investor letter. Headquartered in Parsippany, New Jersey, Zoetis Inc. (NYSE:ZTS) is an animal health medicines, vaccines, and diagnostic products manufacturer. On January 19, 2024, Zoetis Inc. (NYSE:ZTS) stock closed at $188.38 per share. One-month return of Zoetis Inc. (NYSE:ZTS) was -3.38%, and its shares gained 12.97% of their value over the last 52 weeks. Zoetis Inc. (NYSE:ZTS) has a market capitalization of $86.488 billion.

Baron Health Care Fund stated the following regarding Zoetis Inc. (NYSE:ZTS) in its fourth quarter 2023 investor letter:

“Stock selection was also positive in the sub-industry owing to strong gains from global animal health company Zoetis Inc. (NYSE:ZTS) and therapeutics-focused pharmaceutical giant Eli Lilly and Company. Zoetis shares were up after the company reported solid quarterly results with operational revenue and EPS growing 8% and 15%, respectively. Growth was balanced with the U.S. and international segments each growing 8%.”

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Zoetis Inc. (NYSE:ZTS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 56 hedge fund portfolios held Zoetis Inc. (NYSE:ZTS) at the end of third quarter which was 65 in the previous quarter.

We discussed Zoetis Inc. (NYSE:ZTS) in another article and shared the list of largest pharmaceutical companies in the world. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.