Zoetis Inc (Ticker: ZTS) is a leading global animal health company that specializes in the discovery, development, and commercialization of veterinary vaccines, medicines, and diagnostic products. They focus on improving the health and well-being of animals, including livestock and pets, through their innovative solutions.

In recent market activity, ZTS stock is forming a base, indicating a period of consolidation and stability. This suggests that the stock's price has been trading within a range, as buyers and sellers assess the stock's future direction. The base formation indicates that the stock needs more time before potentially resuming its upward movement.

However, it is worth noting that the stock has cooled off in recent weeks, showing a lack of significant price momentum. Additionally, ZTS stock has broken to new relative lows compared to the S&P 500, indicating poor performance relative to the broader market.

Traders and investors should closely monitor the stock's price action and consider the cooling off period and relative underperformance as factors in their decision-making process. It may be prudent to wait for clearer signs of strength or a reversal before considering a position in ZTS stock.