Pfizer Stock Price PFE Stock
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Its dividend growth rate might slow down, but I wouldn’t expect Pfizer to stop its payouts or cut them unless its financials were to significantly deteriorate even further than they already have. The revenue forecast also includes $1 billion stemming from the reclassification of royalty income, previously considered other income, into the revenue line, Pfizer said in a statement. https://g-markets.net/ The facts discussed here and much other information on Zacks.com might help determine whether or not it’s worthwhile paying attention to the market buzz about Pfizer. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term. Blood thinner Eliquis generated $6.75 billion in sales, up 4% on a strict, as-reported basis.
- However, some on Wall Street think the drugmaker’s valuation is too compelling to pass up.
- Income investors should love the company’s dividend yield of over 5.9%.
- The agency also approved Pfizer’s Talzenna on top of Xtandi for patients with castration-resistant prostate cancer that has spread to other organs.
The company expects just $8 billion in sales from the pair next year, down from a whopping $56.7 billion in 2022. On Aug. 1, the healthcare giant unveiled its second-quarter earnings numbers, for the period which ended in June. In Q2, Pfizer’s sales of $12.7 billion were down 54% year over year.
Earnings Results
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On a bearish note, Pfizer is now well behind Novo and Lilly in obesity treatment. Pfizer dropped a once-daily pill and then twice-a-day pill due to side effects. The company is now working to improve its once-a-day approach for obesity treatment.
On the flip side, revenue from blood thinner Eliquis and Vyndaqel beat expectations. Vyndaqel treats a condition in which abnormal protein builds up on the heart. Eliquis, which was developed in partnership with Bristol Myers Squibb (BMY), brought in $1.61 billion in sales, up 9%. Pfizer also recently submitted its request for approval of a hemophilia A and B treatment in the U.S. and Europe.
PFE Overview
This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. My view is that Pfizer isn’t likely to rebound until it beats quarterly earnings estimates.
Before assuming the CEO position in January 2019, he was chief operating officer (COO) starting in January 2018. From February 2016 to December 2018, Bourla was group president of Pfizer’s Global Vaccines, Oncology, and Consumer Healthcare business. He was president and general manager of the company’s Established Products business from 2010 to 2013.
Why you can count on the Dow making changes in February
Pfizer’s adjusted net loss of $968 million in Q reflected a significant fall from its $10.1 billion profit figure in the prior-year quarter. This can primarily be attributed to a $5.6 billion charge related to non-cash inventory write-offs and other charges. The adjusted loss of $0.17 per share was significantly lower than the profit per share of $1.78 in the prior-year quarter. In contrast, the Trefis High Quality Portfolio, with a collection of 30 stocks, has outperformed the S&P 500 each year over the same period.
The big drugmaker’s 2024 guidance disappointed investors.
The bad news is that it’s a far cry from the ginormous sales made in 2022. Seagen’s therapies are expected to contribute $3.1 billion in sales for Pfizer next year. With a first-line label expansion, though, Padcev sales alone could exceed this figure in 2025. Five years from now, I expect annual contributions from Seagen to equal roughly one-fifth of its purchase price. The company is working on developing and diversifying its operations.
Moderna’s RSV Vaccine May Lose Efficacy Faster Than GSK and Pfizer’s
Even factoring out the drag from its COVID products, the company won’t generate jaw-dropping growth. The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… The 10 stocks that made the cut could produce monster returns in the coming years. The concern for investors is now whether Pfizer’s dividend has become unsustainable.
As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index, less of a roller-coaster ride, as evident in HQ Portfolio performance metrics. Pfizer reported revenues of $14.25 billion in the last reported quarter, representing a year-over-year change of -41.3%. Pfizer is expected to post earnings of $0.55 per share for the current quarter, representing a year-over-year change of -55.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -10.8%. Here at Zacks, we prioritize appraising the change in the projection of a company’s future earnings over anything else. That’s because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Revenue from Xeljanz, which treats inflammatory conditions, fell 5% to $1.7 billion. Sales of Enbrel, developed with Amgen (AMGN), toppled 17% to $830 million. Notably, Pfizer wrapped up its $43 billion acquisition of cancer-focused biotech Seagen in December. The deal centered on Seagen’s expertise in antibody drug conjugates, or ADCs, targeted means of sending chemotherapy directly to tumor cells, thus limiting their damage to healthy tissue.
So, you might want to look at some of the facts that could shape the stock’s performance in the near term. Barron’s took a look at the Russell 1000 index to find some growth stocks that trade for the right PEG ratio. Pfizer is looking to start 2024 with a “clean slate,” CEO Albert Bourla said at the J.P. Morgan Healthcare conference early this month, with its recent efforts to clear up uncertainty about COVID-related demand and write off some of its inventory of COVID products. The company is also aiming to cut costs by at least $4 billion by the end of this year, with about 70% of the savings coming from research and development.
