Zoetis falls on lower sales of its pain medicine for dogs
04/11/2024 19:32
** Shares of Zoetis ZTS.N fall 2.7% to $177.04
** "Investor focus has been on Librela's results in the
quarter with the product missing Street expectations by ~$10mm
and showing little/no sequential growth" - Brokerage J.P.Morgan
** Librela is co's osteoarthritis or arthritis pain medicine
for dogs
** Co reports Q3 Librela revenue of $117 mln which is
"roughly flat versus what the company reported in Q2 and ~$10mm
below what we/Street were expecting"- Brokerage J.P.Morgan
** Co now expects 2024 adj EPS between $5.86 and $5.92 vs
previous forecast of $5.78 to $5.88
** ZTS also raises annual rev forecast to $9.2 bln to $9.3
bln, up from $9.1 bln to $9.25 bln previously
** Co posts Q3 adj EPS of $1.58 above Wall Street estimates
of $1.46 - LSEG
** Including session moves, stock down 10.9% YTD
(Reporting by Puyaan Singh and Sneha S K)
((Puyaan.Singh@thomsonreuters.com;))