A surge in pet adoptions and acquisitions amid the COVID-19 pandemic has increased the demand for pet care products and veterinary services. Indeed, remote working dynamics are said to have deepened human-pet bonds, which is contributing in-part to increased pet care spending. The trend has bolstered the performance of pet care companies Zomedica (ZOM) and Zoetis (ZTS). But let’s find out which of these stocks is a better buy now.Zomedica Corp. (ZOM) and Zoetis Inc . (NYSE:) are two popular veterinary healthcare companies engaged in the development, manufacture, and commercialization of animal health medicines in the United States and internationally. ZOM’s lead drug product candidate ZM-007 is used for the treatment of acute diarrhea in small dog breeds and puppies. ZTS offers vaccines to prevent respiratory, gastrointestinal and reproductive tract diseases.
With people spending far more time at home, coping with stress and isolation amid the pandemic, there has been a significant increase in pet ownership. This has driven a surge in demand for pet care services, diagnostics and medicine. Since pet owners are now paying more attention to their companions’ health and wellness, and spending more on medical care amid the uncertainties surrounding the pandemic, the demand for veterinary services is expected to grow even more in the coming months. This bodes well for ZOM and ZTS.
While ZOM lost 34.9% over the last month, ZTS surged 8.7%. However, in terms of their past year’s performance, ZOM’s 570.7% makes it a clear winner given ZTS’ 33.2% returns. But, which of these stocks is a better pick now? Let’s find out.
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