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To counter the loss of stats when a pet dies it's possible to gather ointments and heal the pet.

A regular ointment can be found anywhere across Felucca: the harder the monster, the more chance of it dropping the ointment. You can also obtain them by unlocking and looting some of the Treasure Chests found in many Dungeons. Once you have an Ointment, you can apply it to a pet and it will partially heal it (however this is usually a waste and not recommended). You can also mix this ointment with certain materials and apply it to get great results - increase the maximum hits, strength, resists, etc. of the pet by 5-10% past the normal cap. Here's a list of options:

Result Ingredient Quantity Cap
Hit PointsGinseng1401100
StrengthMandrake Root1401050/260 pack instinct
DexterityBlood Moss90275/140 pack instinct
IntelligenceSpider's Silk120800/175 pack instinct
ManaEthereal Powder11100
StaminaBlack Pearl140550
Physical ResistPig Iron10075
Fire ResistSpring Water13075
Cold ResistBee's Wax4075
Poison ResistOrange Petals175
Energy ResistNox Crystal11075
Armor RatingGreen Thorns170

Double-click the regular ointment, target the material and the ointment will turn into a different type. After you do this you cannot turn it back to a "universal" ointment.