Renaissance Investment Group Lowers stake in Pfizer (PFE)

Pfizer (PFE) : Renaissance Investment Group reduced its stake in Pfizer by 1.63% during the most recent quarter end. The investment management company now holds a total of 38,200 shares of Pfizer which is valued at $1.1 Million after selling 632 shares in Pfizer according to a report filed by the company on Apr 1, 2016 with the SEC.Pfizer makes up approximately 0.57% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group reduced its stake in PFE by selling 372 shares or 2.22% in the most recent quarter. The Hedge Fund company now holds 16,407 shares of PFE which is valued at $492,866. Pfizer makes up approx 0.11% of Beacon Financial Group’s portfolio.

On the company’s financial health, Pfizer reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on Feb 2, 2016. Analyst had a consensus of $0.36. The company had revenue of $14047.00 million for the quarter, compared to analysts expectations of $13595.19 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on Pfizer. JP Morgan Resumed Pfizer on Apr 7, 2016 to “Overweight”, Price Target of the shares are set at $38.Morgan Stanley Resumed Pfizer on Apr 7, 2016 to “Equal-Weight”, Price Target of the shares are set at $35.

Pfizer closed down -0.61 points or -1.88% at $31.89 with 8,32,40,779 shares getting traded on Monday. Post opening the session at $32.52, the shares hit an intraday low of $31.87 and an intraday high of $32.565 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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