Michael Burry increased his position in Zoetis, an animal health company. This move precedes Zoetis' early August earnings report.
Zoetis stock saw modest recent gains. Its 7-day share price return reached 2.57%. However, its 1-year total shareholder return declined significantly by 46.55%. This raises questions about whether recent buying reflects improving business fundamentals or a shift in market sentiment. Some analyses suggest the stock is undervalued. One popular narrative pegs its fair value at $92.92. The stock currently trades at $77.29.