Pfizer executive sells over $147,000 in company stock

In a recent transaction, Jennifer B. Damico, Pfizer Inc. (NYSE:PFE)'s Senior Vice President and Controller, sold 5,154 shares of the company's common stock. The sale, which took place on August 13, 2024, was executed at an average price of $28.66 per share, totaling approximately $147,713.

The transaction was disclosed in a regulatory filing with the Securities and Exchange Commission. Following the sale, Damico's direct holdings in Pfizer stock amounted to 8,582 shares. The details of the transaction highlight the ongoing financial activities of Pfizer's executives and provide investors with insight into insider behavior within the company.

Pfizer Inc. (NYSE:PFE), a global leader in the pharmaceutical industry, has seen its share price fluctuate over the past year, with various factors influencing the market's valuation of the company. Insider transactions such as Damico's sale often draw attention from investors seeking to understand the perspectives of company executives on the firm's financial health and future prospects.

The transaction has been officially recorded and is now public information, allowing shareholders and potential investors to consider this development as part of their investment strategy. Pfizer has not issued any official statement regarding the transaction, and it remains a routine disclosure of stock trading by a corporate insider.

In other recent news, Pfizer Inc. has seen a target increase to $30 from Citi, following a review of the pharmaceutical company's second-quarter results and updated guidance. Pfizer's non-GAAP EPS estimate for the year 2024 has increased by 19% according to the analyst from Citi, with other forecasts varying between a 10% increase and a 13% decrease. Goldman Sachs has also raised its price target for Pfizer, maintaining a Buy rating based on robust second-quarter financial performance.

Pfizer has reported encouraging results from a late-stage study of its RSV vaccine, Abrysvo. The vaccine demonstrated a strong immune response in adults with compromised immune systems, producing neutralizing antibodies against both RSV-A and RSV-B subtypes. These findings will be presented to regulatory authorities for consideration.

The company has also reported a significant year-over-year revenue increase for the second quarter of 2024, serving over 192 million patients with its medicines and vaccines in the first half of the year. Pfizer has raised its full-year revenue and earnings guidance for 2024, indicating a positive outlook for its future performance.

In other related developments, BioNTech SE (NASDAQ:BNTX) reported a significant increase in its net loss for the second quarter, attributed mainly to reduced sales of its COVID-19 vaccine, developed in collaboration with Pfizer. Meanwhile, Moderna (NASDAQ:MRNA) Inc. has revised its 2024 sales forecast for its COVID-19 and RSV vaccines, projecting a decrease of up to $1 billion due to anticipated low sales to the European Union. Despite this, Moderna's Spikevax COVID-19 vaccine generated $184 million in sales for the quarter, exceeding analysts' average estimates.

InvestingPro Insights

Amidst the recent insider transaction by Pfizer Inc.'s Senior Vice President and Controller, Jennifer B. Damico, investors may find additional context in the company's financial metrics and outlook. According to InvestingPro data, Pfizer's market capitalization stands at a robust $163.82 billion, reflecting its significant presence in the pharmaceutical industry. Despite a challenging year with revenue growth down by 29.66% over the last twelve months as of Q2 2024, the company maintains a strong gross profit margin of 60.16%, underscoring its ability to retain a considerable portion of sales as gross profit.

Furthermore, Pfizer's dividend yield as of the latest data is an attractive 5.82%, which is particularly noteworthy considering the company has raised its dividend for 13 consecutive years—an InvestingPro Tip that signals a commitment to returning value to shareholders. This is complemented by the fact that Pfizer has maintained dividend payments for 54 consecutive years, a testament to its long-standing financial stability and reliability as an income-generating investment.

Investors considering Pfizer's stock will also be interested to know that analysts have a positive outlook, with net income expected to grow this year and 12 analysts having revised their earnings upwards for the upcoming period. This aligns with the projection that the company will be profitable this year, a crucial factor for those assessing the company's future performance.

For those seeking a more in-depth analysis, InvestingPro offers additional insights and tips. Currently, there are 11 more InvestingPro Tips available for Pfizer, which can be accessed at https://www.investing.com/pro/PFE. These tips may provide further guidance on the company's valuation multiples, industry standing, and financial health, aiding investors in making more informed decisions.

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