Concannon Wealth Management Lowers stake in Pfizer (PFE)

Pfizer (PFE) : Concannon Wealth Management reduced its stake in Pfizer by 7.2% during the most recent quarter end. The investment management company now holds a total of 96,740 shares of Pfizer which is valued at $3,413,955 after selling 7,501 shares in Pfizer , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Pfizer makes up approximately 3.41% of Concannon Wealth Management’s portfolio.

Other Hedge Funds, Including , Palisade Capital Managementnj boosted its stake in PFE in the latest quarter, The investment management firm added 1,404 additional shares and now holds a total of 252,191 shares of Pfizer which is valued at $8,899,820. Pfizer makes up approx 0.38% of Palisade Capital Managementnj’s portfolio.Savant Capital reduced its stake in PFE by selling 898 shares or 1.53% in the most recent quarter. The Hedge Fund company now holds 57,697 shares of PFE which is valued at $2,128,442. Pfizer makes up approx 0.59% of Savant Capital’s portfolio. Elm Advisors added PFE to its portfolio by purchasing 7,527 company shares during the most recent quarter which is valued at $273,305. Pfizer makes up approx 0.25% of Elm Advisors’s portfolio.

Pfizer closed down -0.51 points or -1.44% at $34.93 with 3,05,40,494 shares getting traded on Monday. Post opening the session at $35.28, the shares hit an intraday low of $34.71 and an intraday high of $35.28 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

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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