By
Tolu Ajiboye
December 13th, 2023
PFE stock has had mixed volatility in the past year, up approximately 47.84% in the past year but down approximately 12.45% YTD.
Pfizer Inc (NYSE: PFE) closed Tuesday, January 8, trading at $52.70, down 2.84% from the day’s opening price. PFE stock recorded more losses during the extended trading period and traded at around $51.63, 0.14% down. The dip occurred despite Pfizer reporting better-than-expected earnings for Q4 2021 and raising its full-year sales forecast for its Covid-19 vaccine. Notably, Pfizer reported a revenue miss and issued weaker-than-expected full-year guidance for its most recent quarter.
According to the fourth-quarter earnings report, Pfizer recorded adjusted earnings per share of $1.08 on revenue of $23.84 billion. Analysts had, however, expected the company to report adjusted earnings per share of 87 cents on revenue of $24.12 billion.
The company also reported its full-year 2021 results, whereby the company recorded a revenue of $81.3 billion in 2021. As for the full-year EPS, the company indicated that it returned diluted EPS of $3.85.
The company has been one of the Covid success stories, thanks to its vaccine progress among its competitors. Notably, Pfizer has its Covid vaccine approved by several government agencies.
Dr. Albert Bourla, Chairman and Chief Executive Officer, stated:
“These successes have not only made a positive difference in the world, but I believe they have fundamentally changed Pfizer and its culture forever. Everywhere I look in the company, I see colleagues who are inspired by what we have achieved to date and filled with determination to be part of the next breakthrough that could change the world for patients in need. As we enter a new year, I look forward to all we will accomplish together.”
PFE Stock after Pfizer Reveals Its Q4 Results
According to market data provided by MarketWatch, PFE stock has had mixed volatility in the past year, up approximately 47.84% in the past year but down approximately 12.45% YTD.
The company heavily invested in the Covid vaccine research, and is now one of the successful pioneers in the sector.
Over the past two years, the company’s market valuation has scaled and currently stands at around $298.66 billion with 5.61 billion in shares outstanding. With the resurgence of Covid variance dubbed Omicron, the company is working round the clock to deliver on the ever-increasing demand.
The company is however preparing to part with one of its top executives, according to the earnings report. Frank D’Amelio, Chief Financial Officer, Executive Vice President, is ostensibly preparing to retire after 15 years in service.
“As I prepare to retire as CFO of Pfizer, I am proud to see that the company is performing better than at any other time during my nearly 15 years here,” D’Amelio said.