Sumitomo Life Insurance Co Lowers stake in Pfizer (PFE)

Pfizer (PFE) : Sumitomo Life Insurance Co reduced its stake in Pfizer by 7.3% during the most recent quarter end. The investment management company now holds a total of 247,221 shares of Pfizer which is valued at $8,086,599 after selling 19,476 shares in Pfizer , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Pfizer makes up approximately 1.05% of Sumitomo Life Insurance Co’s portfolio.

Pfizer opened for trading at $32.56 and hit $33 on the upside on Monday, eventually ending the session at $32.8, with a gain of 0.28% or 0.09 points. The heightened volatility saw the trading volume jump to 3,80,66,813 shares. Company has a market cap of $202,840 M.

Other Hedge Funds, Including , Jones Collombin Investment Counsel Inc reduced its stake in PFE by selling 11,610 shares or 3.06% in the most recent quarter. The Hedge Fund company now holds 367,715 shares of PFE which is valued at $12,027,958. Pfizer makes up approx 3.32% of Jones Collombin Investment Counsel Inc’s portfolio.Cape Cod Five Cents Savings Bank boosted its stake in PFE in the latest quarter, The investment management firm added 5,078 additional shares and now holds a total of 91,427 shares of Pfizer which is valued at $2,990,577. Pfizer makes up approx 0.57% of Cape Cod Five Cents Savings Bank’s portfolio.Curian Capital reduced its stake in PFE by selling 463,954 shares or 63.15% in the most recent quarter. The Hedge Fund company now holds 270,733 shares of PFE which is valued at $8,855,676. Pfizer makes up approx 0.65% of Curian Capital’s portfolio. Strs Ohio sold out all of its stake in PFE during the most recent quarter. The investment firm sold 4,315,678 shares of PFE which is valued $143,582,607.

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. Goldman Resumed Pfizer on Apr 18, 2016 to “Neutral”, Price Target of the shares are set at $35.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 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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