According to S&P Global Market Intelligence, the average analyst target price for PFE stock is $32.19, representing an upside of more than 7% to current levels. Not only is Pfizer one of Kiplinger’s best stocks to buy, but Wall Street is also bullish on the healthcare stock. “With a successful first half now completed, we believe it is appropriate to update our full year earnings outlook to reflect our strong business performance,” Denton said in prepared remarks. Wall Street was anticipating revenue of $13 billion and earnings of 46 cents per share, according to Yahoo Finance. Pfizer (PFE) stock is trading in negative territory Tuesday even after the pharmaceutical giant topped analysts’ expectations for its second quarter and raised its full-year outlook.
Premium Investing Services
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. 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 isn’t on our upcoming stock splits calendar, and we don’t expect to see it there in the near future.
Motley Fool Returns
At the moment, Pfizer’s grand plan is to lay the groundwork for its growth through 2030 and beyond. The company reported revenues of $58.5 billion, a decrease of 42% from 2022. Management says that amounts to 7% operational growth when you exclude contributions from Comirnaty and Paxlovid.
Pfizer MarketRank™ Stock Analysis
We continue to view the stock as undervalued, with the market not fully appreciating the firm’s cost-cutting and developing pipeline, which reinforce Pfizer’s wide moat. Since then, PFE shares have increased by 9.0% and is now trading at $31.38. Pfizer Inc was incorporated on June 2nd, 1942 in Delaware, and another period of expansion began. The postwar drop in demand for penicillin led to the discovery of newer, more marketable antibiotics and cemented the company’s role in modern medicine. By the time he 80s rolled around, the company was trading on the New York Stock Exchange and on the path to developing today’s blockbuster lineup. As of the first quarter, it has more than $11.9 billion in cash, cash equivalents, and short-term investments on hand.
- © 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.
- Let’s discuss how to invest in Pfizer and whether this healthcare stock deserves a place in your portfolio.
- The company makes money by developing and manufacturing drug treatments to promote health and prevent disease.
- This is a good example of the importance of researching companies rather than jumping in with both feet.
- Profit and prosper with the best of Kiplinger’s advice on investing, taxes, retirement, personal finance and much more.
Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. The company also aims to save about $4 billion through the end of 2024 through cost-cutting https://www.1investing.in/ measures that include layoffs. However, the company believes it can add up to $25 billion in revenue by 2030, with its Seagen acquisition generating about $10 billion in additional revenue.
Chip Stocks Rally After Brutal Rout—As Biden Reportedly Eases Planned Semiconductor Trade Rules
Pfizer continues to monitor their generics and assume responsibility for them even after the patent expires. Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space. Profit and prosper with the best of Kiplinger’s advice on investing, taxes, retirement, personal finance and much more.
Lego’s brand power and financial success likely have many investors wondering whether they can buy Lego stock. The costs of bringing a new drug to market can run as high as $2 billion. Even when a drug candidate reaches phase 3 testing, there’s no guarantee it will bad debts recovered entry win approval. Albert Bourla, who has been with Pfizer for more than 25 years, is currently the company’s chief executive officer (CEO) and chairman. Before assuming the CEO position in January 2019, he was chief operating officer (COO) starting in January 2018.
Albert Bourla is the pharmaceutical giant’s current chief executive officer (CEO). Pfizer is classified as a member of the S&P 500 healthcare sector and operates within the biotechnology and pharmaceutical industry. Inc. (MRK), Switzerland-based Roche Holding AG (RHHBY), and Eli Lilly and Co. (LLY). Pfizer reported adjusted net income attributable to its common shareholders of $25.2 billion on $81.3 billion in annual revenue in its 2021 fiscal year (FY).
It was the first COVID-19 vaccine to receive full approval from the FDA. In 2020, Pfizer co-developed with BioNTech SE a vaccine against COVID-19, the virus whose rapid spread prompted the World Health Organization (WHO) to declare a global pandemic in March 2020. On Dec. 11, 2020, the Pfizer-BioNTech vaccine became the first COVID-19 vaccine to receive emergency use authorization (EUA) from the U.S. The vaccine was approved for emergency use for individuals 16 years of age and older. On May 10, 2021, the FDA expanded the EUA for the Pfizer-BioNTech vaccine to include adolescents ages 12–15. Please log in to your account or sign up in order to add this asset to your watchlist.
Pfizer expects its 2024 revenue to fall between $58.5 billion and $61.5 billion, and its adjusted earnings to be in the range of $2.15 to $2.35 per share. Overall, Pfizer is expected to report a y-o-y sales growth, but it may fall short of the street estimates. The company operates as a research-based pharmaceutical company focused on the discovery, production and marketing of medicines and vaccines. It is the 2nd largest drugmaker globally by revenue and is ranked 64th on the Fortune 500 list. The company’s avenues of research include Immunology, Oncology, Cardiology, Endocrinology and Neurology. Eli Lilly is a global drug manufacturing company headquartered in Indianapolis, Indiana.
The company traces its origins to the founding of Charles Pfizer & Co. in Brooklyn, N.Y., in 1849 by Charles Pfizer and Charles Erhart. The company expanded during the late 1800s and early 1900s, remaining a privately held company until June 1942, when it offered shares of its common stock to the public for the first time. It was the first mass producer of the “miracle drug” penicillin in the 1940s and was generating more than a billion dollars in sales by the early 1970s. Pfizer has become one of the biggest pharmaceutical companies in the world, with a market capitalization of $251.3 billion as of Nov. 3, 2021. From a valuation perspective, Pfizer looks like it is fully priced. We estimate Pfizer’s Valuation to be $29 per share, aligning with its current market price.
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. Bourla served in a number of other roles from 1993, when he joined the company, to 2010. It’s probable that Pfizer’s stock would see a significant bump on the day it were to announce an acquisition of a weight loss biotech, assuming this prediction comes true. But that just means the company has an incentive to make big plays and take big risks to delight its shareholders. On that front, here’s my prediction for what its next major move will be.
Merck is a global healthcare company based in Kenilworth, New Jersey. The company offers prescription medicines, vaccines, biologic therapies, and animal health products. Its two operating segments are pharmaceutical and animal health. Coming to the latest quarter, Vyndaqel and Abrysvo will likely gain market share. The company’s Covid-19 product sales will likely be favorably comparable to the prior-year quarter.
