From a technical perspective, Pfizer (PFE) is looking like an interesting pick, as it just reached a key level of support. PFE recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
Pfizer is also carrying out another $4 billion cost-cutting effort, which it announced last year as demand for its Covid vaccine and drug Paxlovid slumped.
U.S. drugmaker Pfizer said on Wednesday it had launched a multi-year program to reduce expenses and aims to save about $1.5 billion in costs by the end of 2027.
Pfizer stock has fallen by about half from the peak it reached about two years ago. Some billionaire fund managers placed big bets on Pfizer in the first quarter.
Dividend-paying stocks have more than doubled up the annualized average return of non-payers over the last half-century. Although roughly 80% of S&P 500 companies pay a regular dividend, only a little over a dozen sport a truly supercharged yield.
Billionaire money managers bought millions of shares of high-yield healthcare stocks during the first three months of 2024. John Overdeck and David Siegel of Two Sigma Investments bought over 8 million Pfizer shares, and they weren't the only billionaires interested in the pharmaceutical giant.
AstraZeneca owes Pfizer $107.5 million in damages, a Delaware federal jury said on Friday after finding that AstraZeneca's blockbuster lung cancer drug Tagrisso violated its Wyeth unit's patent rights.
Pfizer (PFE) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Pfizer's stock has struggled to recover since the pandemic, but its high dividend yield of 5.9% makes it an attractive option for income investors. The company faces risks from upcoming patent expiries and the impact of rising interest rates on its debt and ability to invest in research and development. Despite these challenges, Pfizer's valuation metrics suggest it is attractively priced, and a dividend discount model estimates a potential upside of over 30% from the current price level.
While healthcare is broadly resilient in times of economic stress, each company needs its own evaluation. Pfizer is dealing with a period of transition, but its business has only been bolstered by pandemic successes.