Lazard Asset Management buys $846.3 Million stake in Pfizer (PFE)

Pfizer (PFE) : Lazard Asset Management scooped up 3,635,380 additional shares in Pfizer during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 25,499,051 shares of Pfizer which is valued at $846.3 Million.Pfizer makes up approximately 2.09% of Lazard Asset Management’s portfolio.

Other Hedge Funds, Including , Denver Investment Advisors reduced its stake in PFE by selling 35,126 shares or 6.52% in the most recent quarter. The Hedge Fund company now holds 503,976 shares of PFE which is valued at $16.7 Million. Pfizer makes up approx 0.75% of Denver Investment Advisors’s portfolio. Patton Albertson Miller Group sold out all of its stake in PFE during the most recent quarter. The investment firm sold 7,091 shares of PFE which is valued $238,116.Analyst Ims Investment Management Services Ltd. reduced its stake in PFE by selling 3,567 shares or 2.02% in the most recent quarter. The Hedge Fund company now holds 172,630 shares of PFE which is valued at $5.8 Million. Pfizer makes up approx 2.54% of Analyst Ims Investment Management Services Ltd.’s portfolio.Choate Investment Advisors reduced its stake in PFE by selling 22,520 shares or 10.61% in the most recent quarter. The Hedge Fund company now holds 189,689 shares of PFE which is valued at $6.4 Million. Pfizer makes up approx 0.44% of Choate Investment Advisors’s portfolio. Efficient Market Advisors sold out all of its stake in PFE during the most recent quarter. The investment firm sold 2,012 shares of PFE which is valued $65,813.

Pfizer opened for trading at $33.48 and hit $33.9 on the upside on Friday, eventually ending the session at $33.74, with a gain of 1.08% or 0.36 points. The heightened volatility saw the trading volume jump to 3,45,71,121 shares. Company has a market cap of $204,628 M.

On the company’s financial health, Pfizer reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.55. The company had revenue of $13005.00 million for the quarter, compared to analysts expectations of $12008.32 million. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on Pfizer. 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 .Goldman Resumed Pfizer on Apr 18, 2016 to “Neutral”, Price Target of the shares are set at $35.

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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