Value

Read

Gains

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<p class="has-drop-cap">Activist investor Starboard Value has<a aria-label=" reportedly acquired a significant stake in pharmaceutical giant Pfizer (NYSE: PFE) (opens in a new tab)" href="https://www.reuters.com/business/healthcare-pharmaceuticals/activist-investor-starboard-value-takes-1-billion-stake-pfizer-wsj-reports-2024-10-07/" target="_blank" rel="noopener noreferrer nofollow" class="deco-link"> reportedly acquired a significant stake in pharmaceutical giant Pfizer (NYSE: PFE)</a>, potentially signaling major changes for the drugmaker. The news has already impacted Pfizer’s stock price and raised questions about the company’s future direction.</p>
<h3 id="activist-investor-takes-significant-stake-in-pfizer">Activist Investor Takes Significant Stake in Pfizer</h3>
<p>Starboard Value, an activist investment fund run by Jeff Smith, has built a roughly $1 billion position in Pfizer. The fund, known for its technology-sector focus and recent campaigns at companies like <a href="https://tokenist.com/autodesk-stock-gains-after-activist-hedge-funds-500-million-stake-revealed/" rel="noopener noreferrer nofollow" class="deco-link">Autodesk (NASDAQ: ADSK)</a> and Salesforce (NYSE: CRM), is reportedly seeking assistance from former Pfizer CEO Ian Read and ex-finance chief Frank D’Amelio. <br><br>While Starboard’s exact plans remain undisclosed, the move suggests a push for significant changes in Pfizer’s strategy and operations.</p>
<p>The activist investor’s involvement implies potential pressure on current CEO Albert Bourla’s leadership and scrutiny of Pfizer’s recent acquisition strategy and cost structure. Analysts speculate that Starboard may advocate for a return to a more disciplined approach to expenses and a renewed focus on novel drug development.</p>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p>
 </div>
</div>
<h3 id="pfizer-stock-sees-gains-in-premarket-trading">Pfizer Stock Sees Gains in Premarket Trading</h3>
<p>Pfizer’s stock has shown an immediate reaction to the news, with pre-market trading on Monday, October 7, showing a 3.04% increase to $29.45 per share as of 7:53 AM EDT (at the time of writing).</p>
<p>The company’s financial metrics paint a mixed picture: while Pfizer boasts a trailing twelve-month revenue of $55.17 billion, it also reports a negative EPS of $0.46 and a net income loss of $2.59 billion for the same period.</p>
<p>Despite these challenges, Pfizer maintains a strong cash position of $7.1 billion and offers an attractive <a href="https://tokenist.com/investing/stocks-that-pay-dividends/" rel="noopener noreferrer nofollow" class="deco-link">forward dividend yield</a> of 5.74%. The company’s stock performance has lagged behind <a href="https://tokenist.com/investing/spx-vs-spy/" class="deco-link" rel="noopener noreferrer nofollow">the S&amp;P 500 index</a>, with a one-year return of -10.72% compared to the index’s 35.98% gain.</p>
<p>Analyst recommendations for Pfizer stock remain mixed, ranging from “Neutral” to “Overweight,” with an average price target of $33.34.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/starboard-value-reportedly-acquires-1b-stake-in-pfizer-as-stock-lags-sp-500-by-46/">Starboard Value Reportedly Acquires $1B Stake in Pfizer as Stock Lags S&amp;P 500 by 46%</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Starboard Value Reportedly Acquires $1B Stake in Pfizer as Stock Lags S&P 500 by 46%

Table of Contents

Tokenist

Other articles published on Oct 7, 2024

Qubetics Hits Over $1 Million Presale Mark As Gnosis Price Surges, and Solana Dominates DeFi – Th...

With an Impressive $1M in Presale, Qubetics Steals the Show While VeChain and Pyth Network Rise

ELONMAN Solana Memecoin Will Skyrocket 14,000% Ahead of Exchange Listing, While SHIB and BONK Lag

Rekt Capital Analyzes Bitcoin’s Support Levels and Potential Market Movements

Uni Emirat Arab Bebaskan Kripto dari Pajak PPN, Apa Dampaknya?

Coinpedia Fintech News

Join our free newsletter for daily crypto updates!