Media reports indicate that activist investor Starboard Value has acquired approximately $1 billion worth of shares in Pfizer (PFE, Financial). Following this news, Pfizer's stock rose nearly 3% in pre-market trading. Starboard Value is reportedly in discussions with Pfizer's former CEO, Ian Read, and former CFO, Frank D’Amelio, to assist in enhancing the company's performance.The hedge fund has expressed concerns that Pfizer's current CEO, Albert Bourla, who succeeded Read in 2019, lacks the acquisition di ...

Pfizer TodayPFEPfizer$29.40 +0.82 (+2.87%) 52-Week Range$25.20▼$33.92Dividend Yield5.71%Price Target$34.54Add to WatchlistPfizer Inc. NYSE: PFE hit its peak during the COVID-19 pandemic when its vaccines developed with BioNTech SE NASDAQ: BNTX sent shares surging up to $61.71 in December 2021, driven by its COVID-19 vaccine sales. Since then, it's been downhill for the medical sector giant as COVID revenues dried up with the pandemic in the rearview mirror. Normalization set in, and investors jumped out. Pf ...

Pfizer Inc. PFE may have been a hero in the COVID-19 vaccine race, but its stock is stuck in the slow lane. Down nearly 14% over the last year, the pharma giant's shares have struggled as demand for its pandemic-related treatments has fizzled out.But things could get interesting—activist investor Starboard Value just acquired a $1 billion stake in the company.Could this signal a turning point for the pharma giant?Starboard To The Rescue?Starboard Value, led by Jeff Smith, isn't shy about shaking things up. ...

KEY TAKEAWAYSStarboard Value reportedly has taken a roughly $1 billion stake in Pfizer, as the activist investor seeks to turn the struggling drugmaker around. According to The Wall Street Journal, Starboard has approached Ian Read, a former Pfizer chief executive, and ex-finance chief Frank D’Amelio to help aid its efforts.Pfizer shares are rising about 3% in premarket trading but have almost halved since their pandemic peak in 2021, as demand for its COVID-19 vaccines slumped. Shares of Pfizer (PFE) are r ...

Activist investor Starboard Value has taken a $1 billion stake in beleaguered drugmaker Pfizer Inc. and is seeking a turnaround, the Wall Street Journal reported late Sunday.Citing unnamed sources familiar with the matter, the Journal reported Starboard has approached two former Pfizer executives to assist in its efforts, though Starboard’s specific plans were not revealed. ...

Starboard Value has taken a significant stake in Pfizer, said people familiar with the matter. The drug giant's stock has dropped significantly since its 2021 COVID-19 vaccine rollout. Starboard has recently taken positions in Starbucks and Match. Insider Today NSIDER TODAY Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a pe ...

Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with the matter.The activist's exact plans could not be learned, but Starboard has approached former Pfizer CEO Ian Read and ex-finance chief Frank D'Amelio, both of whom have expressed interest in supporting Starboard's turnaround, said the people.Starboard believes that Pfizer's current leadership, under CEO Albert Bour ...

My previous bullish thesis about Pfizer's stock (NYSE: PFE ) (NEOE: PFE:CA ) aged well as the stock delivered a 5% total return since early July. The stock outperformed the broader U.S. market over the same period. I am a highly experienced Chief Financial Officer (CFO) with a strong background in the oilfield and real estate industries. With over a decade of experience in finance, I have led numerous complex due diligence efforts and M&A transactions, both domestically and internationally.In recent years, ...

Pfizer has prepared for today's challenges... and has set big goals. Pfizer (PFE -0.21%) has been around for 175 years, selling a wide range of drugs in various treatment areas over time. But this pharma giant truly became a household name a few years ago. Pfizer made headlines with its coronavirus vaccine, which turned out to become the world's best-selling pharmaceutical product. And this helped Pfizer reach a record of more than $100 billion in annual revenue in 2022. But over the past year and a half, a ...

A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.Hello and happy Tuesday! Today, we're unpacking a shocking move from Pfizer. The pharmaceutical giant last week announced it would voluntarily withdraw its sickle cell disease therapy, Oxbryta, from worldwide markets — to the surprise of doctors, patients and investors.Here's why the drug is important: Oxbryta is one of at l ...