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<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>
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<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%

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