Veritas Asset Management Llp buys $85,006,552 stake in Pfizer (PFE)

Pfizer (PFE) : Veritas Asset Management Llp scooped up 564,300 additional shares in Pfizer during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 2,408,800 shares of Pfizer which is valued at $85,006,552.Pfizer makes up approximately 0.89% of Veritas Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Putnam Fl Investment Management Co boosted its stake in PFE in the latest quarter, The investment management firm added 1,619 additional shares and now holds a total of 25,390 shares of Pfizer which is valued at $896,013. Pfizer makes up approx 0.10% of Putnam Fl Investment Management Co’s portfolio.Proficio Capital Partners reduced its stake in PFE by selling 28,157 shares or 44.59% in the most recent quarter. The Hedge Fund company now holds 34,984 shares of PFE which is valued at $1,290,560. Pfizer makes up approx 0.81% of Proficio Capital Partners’s portfolio.Northstar Group reduced its stake in PFE by selling 1,013 shares or 9.73% in the most recent quarter. The Hedge Fund company now holds 9,399 shares of PFE which is valued at $341,278. Pfizer makes up approx 0.25% of Northstar Group’s portfolio.Washington Trust Bank reduced its stake in PFE by selling 4,897 shares or 9.51% in the most recent quarter. The Hedge Fund company now holds 46,599 shares of PFE which is valued at $1,683,156. Pfizer makes up approx 0.43% of Washington Trust Bank’s portfolio.

Pfizer closed down -0.14 points or -0.40% at $35.15 with 2,51,25,802 shares getting traded on Thursday. Post opening the session at $35.5, the shares hit an intraday low of $35.15 and an intraday high of $35.52 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Pfizer reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.62. The company had revenue of $13147.00 million for the quarter, compared to analysts expectations of $13013.24 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Pfizer. Shares were Reiterated by Jefferies on Jun 20, 2016 to “Buy” and Lowered the Price Target to $ 40 from a previous price target of $42 .Berenberg Initiated Pfizer on May 12, 2016 to “Hold”, Price Target of the shares are set at $38.Company shares were Reiterated by UBS on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $36 .

Pfizer Inc. is a global biopharmaceutical company. The Company is engaged in discovering developing and manufacturing of healthcare products. Its products include Lyrica the Prevnar family of products Enbrel Celebrex Lipitor Viagra Zyvox Sutent EpiPen Toviaz Tygacil Rapamune Xalkori Inlyta Norvasc BeneFIX Genotropin and Enbrel among others. It operates in three segments: Global Innovative Pharmaceutical segment (GIP) Global Vaccines Oncology and Consumer Healthcare segment (VOC) and Global Established Pharmaceutical segment (GEP). GIP is focused on developing registering and commercializing medications in therapeutic areas such as inflammation cardiovascular/metabolic neuroscience and pain rare diseases and women’s/men’s health. VOC focuses on the development and commercialization of vaccines and products for oncology and consumer healthcare. GEP includes its sterile injectable products and bio similar development portfolio. Its subsidiary is Hospira Inc.

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