Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands. It also provides medicines and vaccines in various therapeutic areas, such as biosimilars for chronic immune and inflammatory diseases under the Xeljanz, Enbrel, Inflectra, Litfulo, Velsipity, and Cibinqo brands; amyloidosis, hemophilia, endocrine diseases, and sickle cell disease under the Vyndaqel family, Oxbryta, BeneFIX, Somavert, Ngenla, and Genotropin brands; sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Zavicefta, Zithromax, and Panzyga brands; and biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Inlyta, Bosulif, Mektovi, Padcev, Adcetris, Talzenna, Tukysa, Elrexfio, Tivdak, Lorbrena, and Braftovi brands. In addition, the company involved in the contract manufacturing business. It serves wholesalers, retailers, hospitals, clinics, government agencies, pharmacies, individual provider offices, retail pharmacies, and integrated delivery systems. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Merck KGaA; and BioNTech SE. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York.

Pfizer appears to be a mature pharmaceutical company with strong operating margins, but weak returns on capital and notable pressure on net income. Revenue and EBITDA remain large and relatively stable, while the operating margin of 22.96% looks strong and above the industry median, supporting the business valuation. At the same time, the net margin of 6.80% is noticeably below the industry and has deteriorated compared with higher levels last year, indicating a decline in the quality of converting revenue into bottom-line profit. ROE of 4.87%, ROA of 2.10%, and ROI of 5.02% are significantly below industry benchmarks and have been declining over the years, so capital is being used inefficiently. P/E of 37.53 looks high relative to the sector and has increased compared with earlier periods, indicating a more expensive earnings valuation. At the same time, P/S, P/B, and P/FCF are below the industry median, meaning some multiples do not look overheated, and the market is not pricing in an excessive premium on revenue and the balance sheet. The debt burden is moderate in absolute terms, but debt/equity is above the industry median, and long-term debt remains significant, limiting revaluation potential. Liquidity looks average: a current ratio of 1.27 and a quick ratio of 0.96 do not provide much of a cushion, especially for a company with cyclical cash flows and a large debt position. Dividend yield is absent in the current data, and historically it was around 1.7%, so the dividend argument is currently weaker than before. The balance sheet base remains very large, and equity is substantial, but this does not offset the weak earnings momentum and returns on capital. Overall, the fundamentals are rather neutral-to-negative for a rerating: strong operating margins and business scale are offset by weak profitability, a high P/E, and deteriorating earnings quality. For an investor, this means the fair price should be somewhat more cautious than the current operating benchmark, without aggressive upside.

Pfizer, Inc.

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Сильный индекс, значительно упал. Рынок не поддерживает быков.

Strong index, significantly down. The market does not support the bulls.

Средний индекс, незначительно вырос. Отток средств из лонгов на высоком уровне.

Medium index, slightly up. Outflow of funds from longs at a high level.

Pfizer’s strong operating margin and business scale are combined with weak return on capital, a high P/E ratio, and deteriorating net income.

Key Points
Some of the best dividend stocks can be found in consumer staples, healthcare, energy, and REITs.
The five dividend stocks featured in this article are paying trailing 12-month yields of 5.88% to 16.72%.
Pfizer might have one of the “safest” dividends in the market with an 88-year consecutive dividend streak.
If you want to earn steady income from your investments, choosing the best high-yield dividend stocks can be a good strategy. Dividend stocks tend to represent companies with strong balance sheets, reliable cash flow, and well-established business models. They are often in steady, so-called "recession-proof" industries. And although every stock carries some risk of loss, stocks that pay strong dividends are often less volatile than tech stocks and growth stocks.
Let's look at a mix of five well-regarded dividend stocks and see how much $10,000 would earn in dividends: tobacco seller Altria Group (NYSE: MO), real estate investment trust AGNC Investment (NASDAQ: AGNC), midstream company Energy Transfer (TXSE: ET), pharmaceutical giant Pfizer (NYSE: PFE), and commercial real estate stock Realty Income (NYSE: O).
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Altria Group (MO): 5.93% dividend yield
Altria is a consumer staples company that owns prominent tobacco brands like Philip Morris USA's Marlboro cigarettes. Altria has also expanded its business into products like e-cigarettes and nicotine pouches. The stock is a Dividend King, with an impressive 57-year track record of paying higher dividends. As of Oct. 14, its trailing 12-month dividend yield was 5.93%.
Factor to Consider
Altria (MO)
Current yield (as of Oct. 14)
5.93%
Payout frequency
Quarterly
How safe is this dividend?
Safe. This Dividend King is likely to keep paying strong dividends.
One risk facing this stock
Declining sales volume due to changing consumer preferences for tobacco products.
AGNC Investment (AGNC): 16.72% dividend yield
AGNC is a mortgage REIT. This company mainly invests in Agency mortgage-backed securities (MBS), which are guaranteed by government agencies like Freddie Mac. As of Oct. 14, AGNC was paying a massive dividend, with a trailing 12-month yield of 16.72%. Although AGNC has paid a steady dividend since 2020, its dividend could be at risk due to a rising interest-rate environment facing the mortgage industry.
Factor to Consider
AGNC Investment Corp. (AGNC)
Current yield (as of Oct. 14)
16.72%
Dollar payout per $10,000 invested
$1,672
Payout frequency
Monthly
How safe is this dividend?
Sustainable, but somewhat risky. As of August, AGNC was trading above its book value per share.
One risk facing this stock
AGNC could be vulnerable to rising interest rates.
Energy Transfer: 6.57% dividend yield
Energy Transfer is a midstream energy company that operates natural gas pipelines in 44 states. The company's "units" (instead of shares) are traded on the Texas Stock Exchange. Energy Transfer has increased its dividend for 19 consecutive quarters. This company is showing strong growth in distributable cash flow (DCF), so its dividend is ideally safe for the foreseeable future.
As of Oct. 14, Energy Transfer LP was paying a strong trailing 12-month dividend yield of 6.57%.
Factor to Consider
Energy Transfer LP (ET)
Current yield (as of Oct. 14)
6.57%
Payout frequency
Quarterly
How safe is this dividend?
Safe
One risk facing this stock
Be aware of tax implications; Energy Transfer is a Master Limited Partnership (MLP), so each "unitholder" in the partnership is responsible for reporting distribution payouts. Investors will need to report this income on an extra K-1 form when filing taxes.
Pfizer (PFE): 6.06% dividend yield
Pfizer is a major pharmaceutical company well known for its COVID-19 vaccine. It could be a good buy today for investors who are bullish on the company's broad research and development pipeline of new potential treatments for cancer, cardiovascular disease, and rare diseases.
As of Oct. 14, Pfizer was paying a trailing 12-month dividend yield of 6.06%. In 2025, the company paid $9.8 billion of cash dividends to shareholders. And Pfizer is remarkably consistent with its dividend history. As of Oct. 6, Pfizer's fourth-quarter 2026 cash dividend will be the 352nd consecutive quarterly dividend paid to its investors.
Factor to Consider
Pfizer (PFE)
Current yield (as of Oct. 14)
6.06%
Payout frequency
Quarterly
How safe is this dividend?
Safe; Pfizer has an 88-year dividend streak to keep up
One risk facing this stock
Pfizer patent cliff: several top-selling drugs will lose patent protection in 2027
Realty Income (O): 5.88% dividend yield
Realty Income is another REIT that specializes in commercial real estate. The past few years have been difficult for the commercial real estate sector, with rising interest rates and declining office occupancy. But Realty Income has a high occupancy rate (98.8% as of June 30) and gets 78% of its rent from retail properties.
If you're bullish on the long-term prospects of real estate and want a steady dividend, Realty Income could be a good buy. The company has increased its dividend payouts for 116 straight quarters (note that it pays dividends monthly). As of Oct. 14, this stock was paying a trailing 12-month dividend yield of 5.88%.
Factor to Consider
Realty Income (O)
Current yield (as of Oct. 14)
5.88%
Payout frequency
Monthly
How safe is this dividend?
Safe; this real estate company has almost 100% occupancy
One risk facing this stock
Rising interest rates; like other real estate stocks, this could be more rate-sensitive than the broader stock market.
Keep in mind that all stocks have risks and dividends (and specific yields) are not guaranteed. These stocks all have a track record of paying consistent dividends, but companies adjust their dividend payouts based on changes in their business and balance sheets. Dividend yields can also decline as share prices rise.
Should you buy stock in Pfizer right now?
Before you buy stock in Pfizer, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Pfizer wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,315,732!*
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Ben Gran has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer and Realty Income. The Motley Fool has a disclosure policy.

Here's What $10,000 in Each of These 5 High-Yield Dividend Stocks Could Pay You in a Year

Key Points
Cathie Wood owns Beam shares worth roughly $220 million, at the stock's current price.
All of the company's revenue is collaboration revenue.
Beam has a deep pipeline of early-stage gene-editing therapies.
Cathie Wood, the CEO and founder of Ark Investment Management, owns, through her various Ark ETFs, $220.4 million in Beam Therapeutics (NASDAQ: BEAM) shares. It is a healthcare company that focuses on gene editing to develop precision medicines.
She has owned shares in Beam through her various Ark Technology ETFs for more than five years. On Oct. 12 and Oct. 13, she spent an additional $2.8 million on Beam shares for her Ark Genomic Revolution (NYSEMKT: ARKG) fund. .
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The company is a long way from profitability, but thanks to its potential, it is a worthwhile biotech stock to buy if you're willing to handle some volatility and risk.
The stock is down more than 14% this year. Here are three reasons to buy the stock whenever it dips.
Beam has a distinct gene-editing technique
Unlike first-generation CRISPR-Cas9 technologies, which cause double-stranded DNA breaks and carry risk for unintended chromosomal rearrangements, Beam specializes in base editing. This technology allows precise, single-letter chemical edits to the genome without cutting both DNA strands.
The technology precisely changes a specific nucleotide, or letter, in the genetic code. This enables potentially safer, more precise, and highly repeatable therapies, placing Beam at the forefront of the next wave in genomic medicine.
The company recently filed a lawsuit against Serapha Bio and its Chinese partner, YolTech Therapeutics, alleging the companies, with the assistance of a former Beam employee, developed an experimental alpha-1 antitrypsin deficiency (AATD) treatment using stolen trade secrets from Beam.
It has a deep clinical pipeline
Beam's therapies are still in early trials, but it has eight in its pipeline, giving it better odds of developing a blockbuster product. The pipeline focuses on high-value disease areas such as sickle cell disease (SCD), AATD, and other blood disorders.
The company's lead therapy is ristoglogene autogetemcel (risto-cel), which is in early trials. It is an investigational autologous therapy for the treatment of severe SCD. And it's an ex vivo cell therapy using base editing to genetically modify a patient's own hematopoietic stem cells to produce fetal hemoglobin and suppress sickling.
A large cash runway and tier-1 strategic partnerships
Biotech stocks on a pullback often carry solvency risk, but Beam maintains a relatively strong balance sheet. Backed by major pharmaceutical collaborations, including partnerships with Pfizer and Eli Lilly, and a solid cash buffer, Beam has a clear runway to fund its core clinical trials through key milestones without immediate pressure to pursue dilutive emergency capital raises.
As of the second quarter, the company reported having $1.15 billion in cash, enough, it said, to support operations through mid-2029.
Risk, but with ample reward potential
Beam reported only $32.2 million in revenue through its first six months, though that was up 50.5% year over year. It reported a $2.09 loss per share, an improvement from a $2.12 loss in the same period a year ago.
As its programs advance through phase 1/2 clinical trials, the next 12 to 18 months carry dense regulatory and clinical data readouts. If the company can show positive data on the trial readouts, that would likely significantly boost the stock.
Should you buy stock in Beam Therapeutics right now?
Before you buy stock in Beam Therapeutics, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Beam Therapeutics wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,315,732!*
Now, it’s worth noting Stock Advisor’s total average return is 919% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 17, 2026.
James Halley has positions in Pfizer. The Motley Fool has positions in and recommends Beam Therapeutics, Eli Lilly, and Pfizer. The Motley Fool has a disclosure policy.

Cathie Wood Keeps Buying Beam Therapeutics on the Dip. Should You Follow Her Lead?

Key Points
AbbVie is a resilient Dividend King with a wide moat.
It still looks cheap relative to its long-term growth potential.
AbbVie (NYSE: ABBV), which accounts for 6.2% of my portfolio, is one of my favorite long-term dividend stocks. The pharmaceutical giant has raised its dividend annually for 53 consecutive years, making it a Dividend King that has increased its payout for at least 50 years.
I'm sitting on an unrealized gain of nearly 200% on my original position in AbbVie, which I started in early 2020, and I've consistently reinvested my dividends. Its forward yield of 2.4% might seem low compared to the 10-Year Treasury's 5.1% yield. Still, its low forward price-to-earnings ratio of 16 and its massive portfolio of billion-dollar drugs (including the blockbusters Skyrizi and Rinvoq) should limit its downside potential in this choppy market.
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How many shares of AbbVie should you own for $5,000 in annual income?
To earn $5,000 in annual dividends from AbbVie, you would need to own 723 shares for about $206,358 as of this writing. That might not seem like a great deal, especially when the same investment in Pfizer (NYSE: PFE) would generate nearly $12,000 in annual dividends.
But over the past three years, AbbVie's stock rallied 93% as it overcame its loss of U.S. exclusivity for Humira (its blockbuster autoimmune drug) and expanded its new drugs to offset that pressure. Pfizer's stock sank 8% as its sales of COVID-19 vaccines evaporated and its other major drugs faced patent cliffs. Therefore, AbbVie could still be a solid investment for long-term income investors, even though its yield seems unimpressive.
Should you buy stock in AbbVie right now?
Before you buy stock in AbbVie, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and AbbVie wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $391,581!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,780!*
Now, it’s worth noting Stock Advisor’s total average return is 936% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 16, 2026.
Leo Sun has positions in AbbVie and Pfizer. The Motley Fool has positions in and recommends AbbVie and Pfizer. The Motley Fool has a disclosure policy.

Here's How Many Shares of AbbVie You'd Need for $5,000 in Yearly Dividends

The S&P 500 Index ($SPX) (SPY) is down by -0.57% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.30%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.71%. December E-mini S&P futures (ESZ26) are down -0.58%, and December E-mini Nasdaq futures (NQZ26) are down -1.54%.
Stock indexes are mostly lower today, with the S&P 500 falling to a 2-week low and the Nasdaq 100 dropping to a 3.5-week low. The broader market is under pressure today as the rout in chipmakers and AI-infrastructure stocks spreads globally, with South Korea’s Kospi Index sinking more than -7% and China’s Shanghai Composite falling to a 14-month low. Today’s drop in chipmakers followed Anthropic PBC's disclosure of $16.8 billion in Q3 growth to prospective investors, figures that suggest growth has slowed even as it remains robust.
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Stocks extended their losses today on rising US producer price pressures after the Sep PPI final demand rose +6.3% y/y, stronger than expectations of +5.4% y/y and the most in 3.75 years. Also, Sep PPI ex-food and energy rose +5.0% y/y, stronger than expectations of +4.4% y/y and the most in more than 3.5 years.
Other US economic news today was mixed, with Sep retail sales and the Oct Empire manufacturing survey rising more than expected and weekly jobless claims near expectations. However, the Oct Philadelphia Fed business outlook survey fell more than expected.
On the positive side, the slump in global equity markets has sparked a rally in government bond markets, knocking yields lower. The 10-year German Bund yield fell to a 5-week low today of 3.35%, and the 10-year T-note yield fell to a 3-week low of 5.04%. Also, investors rotating out of chip stocks into software companies and defensive pharmaceuticals stocks are lifting the Dow Jones Industrials.
US weekly initial unemployment claims rose by +1,000 to 199,000, close to expectations of 200,000.
US Sep retail sales rose +0.8% m/m, stronger than expectations of +0.3% m/m, and Sep retail sales ex-autos rose+0.9% m/m, stronger than expectations of +0.5% m/m.
The US Oct Philadelphia Fed business outlook survey fell by -16.9 to 20.9, weaker than expectations of 28.0.
The US Oct Empire manufacturing survey of general business conditions rose +17.9 to a 4.75-year high of 25.5, stronger than expectations of 12.0.
Stocks and bonds got some support today after San Francisco Fed President Mary Daly said she thinks rate hikes are likely needed, just not immediately, and that she would hold interest rates steady at the October 27-28 FOMC meeting.
Stocks have support from the prospect of solid quarterly earnings results starting this week. Goldman Sachs on Monday raised its three-month view on global equity markets to overweight from neutral, saying. “Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season.” According to data compiled by Bloomberg Intelligence, Q3 S&P 500 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%. As of today, 32 of the S&P 500 companies have reported results, with 78% beating estimates.
Nov WTI crude oil prices (CLX26) are up +0.20% today. Crude prices are supported by risks to global oil supplies as Yemen's Houthi rebels continue drone and missile attacks across Saudi Arabia, including energy infrastructure. Also, Iranian attacks on shipping attempting to transit the Strait of Hormuz have increased in recent weeks, threatening a rebound in energy supplies from the Middle East. However, today’s selloff in global equity markets is curbing demand for risk assets, including crude.
Markets are discounting a 29% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.62%. China's Shanghai Composite fell to a 14-month low and closed down -1.59%. Japan's Nikkei-225 Stock Average dropped to a 4-week low and closed down sharply by -4.90%.
Interest Rates
December 10-year T-notes (ZNZ6) are up by +23 ticks today. The 10-year T-note yield is down -12.5 bp to 5.060%. Dec T-notes rallied to a 3-week high today, and the 10-year T-note yield fell to a 3-week low of 5.041%. Today’s selloff in global equity markets has boosted safe-haven demand for T-notes. Also, dovish comments from San Francisco Fed President Mary Daly were bullish for T-notes when she suggested she would support holding interest rates steady at the October 27-28 FOMC meeting.
Hawkish US economic news is limiting gains in T-notes after US Sep producer prices and Sep retail sales rose more than expected, and the Oct Empire manufacturing survey's general business conditions rose to a 4.75-year high.
European government bond yields are moving lower today. The 10-year German bund yield fell to a 5-week low of 3.353% and is down -10.7 bp to 3.359%. The 10-year UK gilt yield fell to a 1.5-week low of 5.301% and is down -11.3 bp to 5.312%.
Eurozone Aug industrial production fell -0.5% m/m, weaker than expectations of no change and the biggest decline in 7 months.
ECB Governing Council member Martins Kazaks said the ECB can afford to take its time adjusting interest rates, despite persistent energy price rises that are set to keep consumer price growth elevated, as the recent surge in government bond yields may start to weigh on economic activity.
UK Aug manufacturing production rose +1.2% m/m, stronger than expectations of no change and the largest increase in 9 months.
Markets are discounting an 11% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks are falling today on demand concerns after Anthropic disclosed Q3 revenue growth that likely slowed from the previous quarter. The iShares Semiconductor ETF (SOXX) is down more than -3% at a 1-month low. SanDisk (SNDK) and Seagate Technology Holdings Plc (STX) are down more than -7%, and Intel (INTC), Lam Research (LRCX), and Western Digital (WDC) are down more than -6%. Also, Advanced Micro Devices (AMD), Applied Materials (APLD), and Marvell Technology (MRVL) are down more than -5%, and KLA Corp (KLAC) and Micron Technology (MU) are down more than -4%.
Cryptocurrency-exposed stocks are falling today, with Bitcoin (^BTCUSD) down more than -2% at a 3.5-week low. Iren Ltd (IREN) is down more than -10%, and Galaxy Digital Holdings (GLXY) and Riot Platforms (RIOT) are down more than -8%. Also, MARA Holdings (MARA) and BitMine Immersion Technologies (BMNR) are down more than -6%, and Robinhood Markets (HOOD) and Strategy (MSTR) are down more than -5%. In addition, Coinbase Global (COIN) is down more than -3%, and Circle Internet Group (CRCL) and Bullish (BLSH) are down more than -2%.
Cloud infrastructure stocks are under pressure today on debt concerns after credit-default swaps have priced in a more than 50% chance that CoreWeave could default on its debt within the next five years. Nebius Group NV (NBIS) and Lumentum Holdings (LITE) are down more than -8%, and CoreWeave (CRWV) is down more than -6%. Also, Arista Networks (ANET) and Applied Digital (APLD) are down more than -5%.
Software stocks are climbing today as investors rotate out of chip stocks into software. Intuit (INTU) is up more than +5% to lead gainers in the Nasdaq 100, and Autodesk (ADSK) is up more than +4%. Also, Workday (WDAY) and Adobe Systems (ADBE) are up more than +3%, and Salesforce (CRM) and Thomson Reuters (TRI) are up more than +2%. In addition, IBM (IBM) and ServiceNow (NOW) are up more than +1%.
Defensive pharmaceutical stocks are climbing today amid the broader market slump. Amgen (AMGN), Eli Lilly (LLY), Gilead Sciences (GILD), and Vertex Pharmaceuticals (VRTX) are up more than +3%, and Biogen (BIIB), Merck & Co (MRK), Alnylam Pharmaceuticals (ALNY), and Regeneron Pharmaceuticals (REGN) are up more than +2%. Also, Pfizer (PFE) is up more than +1%.
FMC Corp (FMC) is down more than -34% after cutting its Q3 adjusted Ebitda forecast to a loss of -$510 million to -$565 million, after previously expecting a profit of$120 million to $140 million.
Rocket Lab (RKLB) is down more than -13% to lead losers in the Nasdaq 100 after announcing that it will delay the launch of its inaugural Neutron medium-lift rocket until sometime in 2027.
Penske Automotive Group (PAG) is up more than +8% after entering a deal to be taken private for $212 a share in cash by Penske Corporation and Mitsui.
International Paper (IP) is up more than +5% to lead gainers in the S&P 500 after the Financial Times reported private equity firms Lone Star and Atlas Holdings are exploring bids to acquire the company.
Walmart (WMT) is up more than +3% after Deutsche Bank upgraded the stock to buy from hold with a price target of $136.
Kimberly-Clark (KMB) is up more than +3% after reporting preliminary Q3 net sales of $4.13 billion, above the consensus of $4.10 billion.
Commercial Metals (CMC) is up more than +2% after reporting Q4 net sales of $2.66 billion, better than the consensus of $2.54 billion.
Earnings Reports (10/15/2026)
Alcoa Corp (AA), Bank of New York Mellon Corp/The (BNY), Charles Schwab Corp/The (SCHW), First Horizon Corp (FHN), Interactive Brokers Group Inc (IBKR), JB Hunt Transport Services Inc (JBHT), Marsh & McLennan Cos Inc (MRSH), PNC Financial Services Group Inc (PNC), Prologis Inc (PLD), US Bancorp (USB).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Pressured as Chipmaker Selloff Deepens

The S&P 500 Index ($SPX) (SPY) closed down by -1.11% on Wednesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.09%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -2.02%. December E-mini S&P futures (ESZ26) fell -1.16%, and December E-mini Nasdaq futures (NQZ26) fell -2.10%.
Stock indexes sold off sharply on Wednesday, with the S&P 500 falling to a 1.5-week low and the Nasdaq 100 dropping to a 3.5-week low. Inflation woes dampened market sentiment and sparked stock liquidation on Wednesday after US September consumer prices rose more than expected, reinforcing speculation that the Fed will keep interest rates higher for longer amid sticky price pressures. The chance of a 25 bp Fed rate hike at this month’s FOMC meeting rose to 37% from 22% before the CPI report. Also, the rout in chipmakers continued Wednesday, weighing on the overall market.
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Wednesday’s broader market slump sparked defensive buying of health care and pharmaceutical stocks, limiting losses in the Dow Jones industrials.
US Sep CPI rose +3.7% y/y, stronger than expectations of +3.6% y/y. Sep core CPI rose +2.6% y/y, stronger than expectations of 2.5% y/y.
The Fed Beige Book was hawkish, noting that a majority of the twelve Fed districts in the six weeks through October 5 reported economic growth, and half saw robust or intensifying price pressures.
Stocks and bonds garnered some support Wednesday on comments from Fed Vice Chair Michelle Bowman, who signaled she favors keeping Fed policy steady at this month's FOMC meeting when she said, "We have some time to wait and see how financial conditions and the economy evolve before we decide that we need to take any more action" on interest rates.
US MBA mortgage applications fell -2.7% in the week ended October 9, with the purchase mortgage sub-index down -4.0% and the refinancing mortgage sub-index down -0.4%. The average 30-year fixed-rate mortgage rose +1 bp to a 2.75-year high of 7.50% from 7.49% the prior week.
China's trade news was better than expected, supporting global growth prospects. China's Sep exports rose +36.3% y/y, stronger than expectations of +25.7% y/y and the most in 7 months. Sep imports rose +31.0% y/y, stronger than expectations of +25.0% y/y.
Stocks have support from the prospect of solid quarterly earnings results starting this week. Goldman Sachs on Monday raised its three-month view on global equity markets to overweight from neutral, saying. “Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season.” According to data compiled by Bloomberg Intelligence, Q3 S&P 500 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%.
Nov WTI crude oil prices (CLX26) closed up more than +1% on Wednesday as Yemen's Houthi rebels launched multiple drone and missile attacks across Saudi Arabia, including energy infrastructure. Also, Iranian attacks on shipping attempting to transit the Strait of Hormuz have increased in recent weeks, threatening a rebound in energy supplies from the Middle East.
Markets are discounting a 37% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 closed up +0.38%. China's Shanghai Composite closed down -0.89%. Japan's Nikkei-225 Stock Average closed down -0.05%.
Interest Rates
December 10-year T-notes (ZNZ6) closed up by +4.5 ticks on Wednesday. The 10-year T-note yield fell -2.5 bp to 5.183%. T-note prices recovered from early losses on Wednesday and settled higher as a slump in equity markets fueled short-covering in T-notes. Also, dovish comments on Wednesday from Fed Vice Chair Bowman were bullish for T-notes when said she sees no urgent need for the Fed to raise interest rates.
T-notes initially retreated on Wednesday on the stronger-than-expected US Sep CPI report, which boosted the chance of a Fed rate hike later this month to 37% from 22% before the report. Also, Wednesday’s +1% increase in WTI crude oil has raised inflation expectations and is bearish for T-notes. In addition, the Fed Beige Book was negative for T-notes, noting intensifying price pressures in more than half of the Fed’s districts.
European government bond yields moved lower on Wednesday. The 10-year German bund yield fell -0.3 bp to 3.466%. The 10-year UK gilt yield fell -2.3 bp to 5.424%.
The German Sep wholesale price index rose +8.7% y/y from +6.8% y/y in Aug, the strongest pace of increase in nearly 3.5 years.
Markets are discounting a 12% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks sold off Wednesday, weighing on the overall market. The iShares Semiconductor ETF (SOXX) fell to a 3.5-week low and closed down more than -4%. CoreWeave closed down more than -15% to lead losers in the Nasdaq 100, and Lumentum Holdings (LITE) closed down more than -8%. Also, Marvell Technology (MRVL) closed down more than -7%, and ARM Holdings Plc (ARM) closed down more than -6%. In addition, Advanced Micro Devices (AMD) and SanDisk (SNDK) closed down more than -5%, and Lam Research (LRCX), Seagate Technology Holdings Plc (STX), Microchip Technology (MCHP), Intel (INTC), and Western Digital (WDC) closed down more than -4%.
The Magnificent Seven technology stocks fell on Wednesday, weighing on the broader market. Nvidia (NVDA) and Meta Platforms (META) closed down more than -3%, and Tesla (TSLA) closed down more than -2%. Also, Alphabet (GOOGL), Amazon.com (AMZN), and Microsoft (MSFT) closed down more than -1%. Bucking the trend, Apple (AAPL) closed up +0.50%.
Cybersecurity stocks weakened on Wednesday, weighing on the overall market. Cloudflare (NET) and Okta (OKTA) closed down more than -6%, and Palo Alto Networks (PANW) closed down more than -5%. Also, Crowdstrike Holdings (CRWD) and SentinelOne (S) closed down more than -4%, and Fortinet (FTNT) and Zscaler (ZS) closed down more than -3%.
Cryptocurrency-exposed stocks fell on Wednesday after Bitcoin (^BTCUSD) fell more than -1%. Iren Ltd (IREN) closed down more than -12%, and MARA Holdings (MARA) and Riot Platforms (RIOT) closed down more than -9%. Also, Galaxy Digital Holdings (GLXY) and Robinhood Markets (HOOD) closed down more than -8%, and Circle Internet Group (CRCL), BitMine Immersion Technologies (BMNR), and Strategy (MSTR) closed down more than -5%. On addition, Coinbase Global (COIN) and Bullish (BLSH) closed down more than -4%.
Health insurance stocks moved higher on Wednesday as a defensive play amid the broader market rout. UnitedHealth Group (UNH) closed up more than +4% to lead gainers in the S&P 500 and Dow Jones Industrials. Also, CVS Health Corp (CVS), Cardinal Health (CAH), and United Health Services (UHS) closed up more than +3%, and HCA Healthcare (HCA) and the Cigna Group (CI) closed up more than +2%. In addition, Centene (CNC) and Humana (HUM) closed up more than +1%.
Defensive pharmaceutical stocks rallied on Wednesday amid the broader market slump. Amgen (AMGN), Eli Lilly (LLY), Gilead Sciences (GILD), Merck & Co (MRK), Pfizer (PFE), and Regeneron Pharmaceuticals (REGN) closed up more than +3%, and Vertex Pharmaceuticals (VRTX) closed up more than +2%.
Dell Technologies (DELL) closed down more than -11% to lead losers in the S&P 500 , Hewlett Packard Enterprise (HPE) closed down more than -8%, and NetApp (NTAP) closed down more than -6% after Barclays downgraded the stocks to equal weight from overweight.
Bank of America (BAC) closed down more than -4% after reporting Q3 equities trading revenue ex-DVA of $2.51 billion, weaker than the consensus of $2.63 billion.
State Street (STT) closed down more than -3% after reporting Q3 revenue of $4.00 billion, weaker than the consensus of $4.04 billion.
Progressive (PGR) closed down more than -3% after reporting Q3 net premiums written of $22.30 billion, below the consensus of $22.50 billion.
Liquidia (LQDA) closed up more than +27% after reaching a global settlement resolving all pending litigation with United Therapeutics.
Earnings Reports (10/15/2026)
Alcoa Corp (AA), Bank of New York Mellon Corp/The (BNY), Charles Schwab Corp/The (SCHW), First Horizon Corp (FHN), Interactive Brokers Group Inc (IBKR), JB Hunt Transport Services Inc (JBHT), Marsh & McLennan Cos Inc (MRSH), PNC Financial Services Group Inc (PNC), Prologis Inc (PLD), US Bancorp (USB).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Sharply Lower on Inflation Woes and Slumping Chipmakers

Pfizer (PFE) closed the most recent trading day at $29.21, moving +2.96% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 1.11% for the day. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 1.88%.
Shares of the drugmaker have appreciated by 2.98% over the course of the past month, outperforming the Medical sector's loss of 0.4%, and the S&P 500's gain of 2.06%.
Investors will be eagerly watching for the performance of Pfizer in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 3, 2026. The company's upcoming EPS is projected at $0.72, signifying a 17.24% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $16.13 billion, down 3.14% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.95 per share and a revenue of $62.49 billion, signifying shifts of -8.39% and -0.15%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Pfizer. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.09% decrease. At present, Pfizer boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Pfizer currently has a Forward P/E ratio of 9.63. This denotes a discount relative to the industry average Forward P/E of 15.99.
Also, we should mention that PFE has a PEG ratio of 1.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.93 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 206, finds itself in the bottom 17% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Pfizer (PFE) Gains As Market Dips: What You Should Know

Key Points
Johnson & Johnson's fiscal 2025 sales rose about 6% to $94.2 billion, and its net income includes a roughly $7 billion reversal of its talc reserve.
Pfizer says it expects a significant reduction in revenue from patent and regulatory exclusivity expiries from 2026 through 2030.
Pfizer reported a net loss of $248 million in the second quarter of 2026, mainly due to $4.3 billion in non-cash intangible asset impairments.
Pfizer's $1.72 annual dividend yields about 6% at recent prices, well above the roughly 2% yield on Johnson & Johnson's $5.36.
Johnson & Johnson (NYSE:JNJ) and Pfizer (NYSE:PFE) both sell prescription medicines, offering investors different ways to own healthcare in 2026. Johnson & Johnson also runs a large medical device business, while Pfizer concentrates on biopharmaceuticals.
Pfizer is adding to its pipeline through deals such as its November 2025 purchase of Metsera, a developer of obesity treatments. Both companies are also managing the loss of exclusivity on major products.
The case for Johnson & Johnson
Johnson & Johnson reports two business segments, Innovative Medicine and MedTech. In fiscal 2025, which ended Dec. 28, 2025, Innovative Medicine generated $60.4 billion of sales and MedTech generated $33.8 billion. The company also sells IMBRUVICA, which it co-commercializes in the U.S. with Pharmacyclics, an AbbVie (NYSE:ABBV) company.
Total sales rose about 6% to $94.2 billion, and net income was $26.8 billion, with a net margin of 28.5%. That margin includes a reversal of about $7 billion in the company's talc litigation reserve, so it would have been lower without that reversal.
At the end of fiscal 2025, total debt of $47.9 billion (loans and notes payable plus long-term debt) relative to $81.5 billion of shareholder equity resulted in a debt-to-equity ratio of about 0.59x. The current ratio was 1.0x. Free cash flow, which J&J defines as operating cash flow less additions to property, plant, and equipment, was nearly $19.7 billion.
In the second quarter of 2026, reported on July 15, sales rose 6.6% to $25.3 billion, and the company raised its 2026 outlook to $100.8 billion to $101.4 billion in reported sales. In April, J&J raised its quarterly dividend to $1.34 per share, its 64th consecutive annual increase.
The case for Pfizer
Pfizer concentrates on biopharmaceuticals. According to its 2025 annual report, it supplies medicines and vaccines to about 200 countries and territories and sells primarily to wholesalers.
Eliquis alone accounted for about $8.0 billion, or 13% of 2025 revenue. Pfizer jointly developed and commercializes its COVID-19 vaccine, Comirnaty, with BioNTech (NASDAQ:BNTX), and the two companies share gross profits equally.
In 2025, Pfizer's revenue was $62.6 billion, down about 1.6% from $63.6 billion a year earlier. Net income attributable to Pfizer was $7.8 billion, a 12.4% net margin, after about $4.9 billion of intangible asset impairments and $1.1 billion of net charges for certain legal matters recorded in other deductions.
As of Dec. 31, 2025, Pfizer's total debt was $64.8 billion against $86.5 billion in shareholders' equity, a debt-to-equity ratio of about 0.75x on the same total-debt basis used for Johnson & Johnson. The current ratio was 1.2x. Free cash flow, calculated as operating cash flow of $11.7 billion less $2.6 billion of purchases of property, plant, and equipment, was about $9.1 billion. That was less than the $9.8 billion in dividends Pfizer paid that year. Over the 12 months through the second quarter of 2026, calculated free cash flow was about $11.0 billion, compared with about $9.8 billion in dividends.
In the second quarter of 2026, revenue rose about 3% to $15.0 billion, and adjusted earnings per share were $0.77, down from $0.78 a year earlier. Pfizer still posted a net loss of $248 million, mainly due to $4.3 billion in non-cash intangible asset impairments, partly offset by a $1.9 billion gain from the sale of its investment in ViiV Healthcare.
In its second-quarter release, Pfizer raised the midpoint of its 2026 revenue guidance by $500 million to a range of $60.5 billion to $62.5 billion and said that Chief Financial Officer Dave Denton would leave on Aug. 15, with Cecile Guegan serving as interim CFO.
Risk profile comparison
Johnson & Johnson's annual report says XARELTO and STELARA were among the first drugs selected for Medicare price negotiation, with government-set prices beginning in 2026. CMS has indicated that, beginning in 2027, it will remove both from the Selected Drug List. It also expects continued biosimilar launches to hurt STELARA sales.
Johnson & Johnson faces numerous lawsuits over body powders containing talc, primarily JOHNSON'S Baby Powder. On July 27, 2026, it announced a proposed resolution of the ovarian talc litigation that includes a $5.5 billion commitment, with a first payment of no more than $3 billion in 2027, and that depends on the participation of at least 95% of the remaining claims. In October 2025, it announced plans to separate its orthopedics business, with completion targeted within 18 to 24 months.
Pfizer says in its annual report that it anticipates a significant reduction of revenue from patent-based or regulatory exclusivity expiries in 2026 through 2030.
Pfizer's December 2025 outlook assumed about $1.5 billion less revenue in 2026 from products losing exclusivity, and in August, it lowered its expectation for COVID-19 products to about $4 billion from about $5 billion. The obesity programs from Metsera, which Pfizer bought for $65.60 per share in cash plus a contingent value right of up to $20.65 per share, are still in clinical development, so they do not yet offset those expirations.
Valuation comparison
Pfizer trades at lower multiples than Johnson & Johnson on both forward earnings and sales.
Metric
Johnson & Johnson
Pfizer
Forward P/E
22.4x
9.3x
P/S ratio
6.3x
2.5x
Valuation metrics include sourcing from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?
While Johnson & Johnson looks like the better buy to me, I'd be a patient buyer, adding over time, because the stock isn't cheap and its proposed talc settlement still needs enough plaintiffs to sign on.
J&J earns money from two different businesses, prescription medicines and medical devices, and its sales are still growing. Management raised its 2026 sales outlook in July, and the company has increased its dividend for 64 consecutive years. That record of steady execution is what I look for in a company I'd plan to own for a long time.
Pfizer is tempting for income investors with a yield near 6%, but the trouble is what sits behind that number. Its free cash flow has covered the dividend over the 12 months through the second quarter of 2026, yet Pfizer anticipates a significant reduction in revenue due to patent and regulatory exclusivity expiries from 2026 through 2030.
A low valuation often reflects that kind of uncertainty, and the second-quarter loss from large impairments shows how a pipeline asset can lose value. The obesity programs it gained with Metsera could change the picture, though they're still in clinical development.
Whichever way you lean, I'd treat either stock as one piece of a larger healthcare allocation, and this guide on investing in healthcare stocks shows how the sector's different parts fit together. I'd plan to hold whichever one I chose for at least five years and keep adding on a regular schedule.
Should you buy stock in Johnson & Johnson right now?
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Mike Schwenk has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AbbVie, BioNTech Se, and Pfizer. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.

Johnson & Johnson vs. Pfizer: Which Healthcare Stock Is a Better Buy in 2026?

Key Points
Alnylam cut its full-year revenue guidance due to slower-than-expected sales for Amvuttra.
Ionis experienced two pipeline setbacks on the same day in July.
One of these stocks offers a more attractive risk-reward proposition.
Perhaps the best word to describe the performances of Alnylam Pharmaceuticals (NASDAQ: ALNY) and Ionis Pharmaceuticals (NASDAQ: IONS) in 2026 is "ouch." Both stocks have sunk like a brick year to date. The common denominator behind Alnylam's and Ionis' dismal returns is that each company has experienced its fair share of bad news.
In July, Alnylam cut its revenue guidance due to lower-than-expected sales of its flagship drug, Amvuttra. Ionis experienced two clinical setbacks on the same day, July 9, 2026: Eplontersen failed to meet its primary endpoint in a Phase 3 study for treating transthyretin amyloid cardiomyopathy (ATTR-CM), while Roche (OTC: RHHBY) threw in the towel on a Huntington's disease drug developed by Ionis.
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Which of these two beaten-down biotech stocks is the better bad-news buy? Here's how Alnylam and Ionis stack up against each other.
Alnylam vs. Ionis
There's a clear winner between these two stocks on the financial front. Alnylam's revenue soared 74% year over year in its latest quarter to $1.17 billion. The company posted adjusted earnings of $251.8 million. Meanwhile, Ionis' revenue declined by roughly 41% year over year in the second quarter of 2026 to $268 million, with an adjusted quarterly loss of $57 million.
Granted, Ionis' year-over-year comparison was hurt by a one-time upfront payment for its experimental therapy sapablursen recognized in 2025 Q2. Still, though, Alnylam has the undisputed financial edge.
Which company's news was worse? You could argue that Alnylam's slower-than-anticipated revenue for its top product, Amvuttra, was a bigger blow than Ionis' setbacks for its two partnered programs. However, Amvuttra's sales continue to skyrocket.
Also, Alnylam's competitive dynamics have improved thanks to two developments. Pfizer (NYSE: PFE) won't have generic competition for tafamidis until mid-2031, which helps Alnylam. Importantly, the disappointing late-stage results announced by AstraZeneca (NYSE: AZN) and Ionis for eplontersen could work to the benefit of Alnylam's late-stage candidate, nucresiran.
Wall Street favors Ionis, though. Of the 21 analysts who have given ratings over the past three months, 17 recommended Ionis as a "buy" or better. Their average 12-month price target reflected a potential upside of roughly 88%. Analysts were also bullish about Alnylam, with 18 of 22 analysts rating the stock as a "buy" or better. However, the consensus price target was around 61% above the share price as of Tuesday, Oct. 6, 2026.
Better bad-news buy
The sell-offs for both of these growth stocks are overdone, in my view. I predict that both stocks will be market-beating winners over the next few years.
If I could only pick one of them, though, I'd go with Alnylam. Wall Street may be right that Ionis has more near-term upside potential, but I think Alnylam offers the more attractive risk-reward proposition.
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Keith Speights has positions in Pfizer. The Motley Fool has positions in and recommends Alnylam Pharmaceuticals, AstraZeneca Plc, Ionis Pharmaceuticals, and Pfizer. The Motley Fool recommends Roche Holding AG. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Alnylam vs. Ionis: Here's the Better Bad-News Buy

Key Points
Pfizer is racing towards important patent cliffs.
However, the company’s new and acquired products, as well as several pipeline candidates, could help it overcome the obstacles ahead.
Pfizer’s dividend program still looks solid, and its valuation appears reasonable.
Pfizer's (NYSE: PFE) shares have been hovering below $30 for more than two years now. After the company reported some of its best-ever financial performances thanks to its work in the coronavirus market, revenue and earnings plummeted as the drugmaker was unable to sustain that momentum. However, Pfizer has recently strengthened its pipeline, and over the next few years, the company could see substantial clinical and regulatory progress. How could Pfizer perform over the medium term? Let's find out whether the stock is a buy, sell, or hold.
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Financial results might get worse before they improve
Though Pfizer is no longer generating the kinds of sales and earnings it did earlier this decade, the company has performed better than expected in recent quarters. As management notes, over the past 10 quarterly reporting periods, Pfizer has beaten revenue estimates in nine of them and earnings per share estimates in all 10. But things could get worse for Pfizer over the next few years as the company deals with major patent cliffs. The pharmaceutical giant will lose patent exclusivity for Eliquis, an anticoagulant and one of its biggest growth drivers, by the end of the decade.
Ibrance, a cancer drug, should also lose patent protection relatively soon. Note that in the second quarter, Pfizer's revenue increased just 3% year over year to $15 billion. Sales of Eliquis came in at $2.4 billion, up 21% compared to the year-ago period. And revenue from Ibrance was $1.1 billion, up 1% year over year. So, combined, these two products accounted for about 23% of Pfizer's revenue -- a significant amount.
Pfizer's deep pipeline could help it rebound
Pfizer has a portfolio of new and acquired products that will help it get through major patent cliffs. As the company has pointed out, this group of products generates $13 billion in annualized sales and is growing 20% year over year. If that continues, by the end of the decade, they could help offset the losses the company will incur from patent cliffs. Pfizer is also working on launching other brand-new products. This is perhaps where its best opportunities lie. The company is currently running 31 Phase 3 studies. What's even more exciting is that roughly half of these ongoing clinical trials are for new molecular entities.
And these investigational medicines span several therapeutic areas, including oncology, weight management, and immunology. The success rate for Phase 3 clinical trials is estimated at 50% to 60%. So, if Pfizer's success rate in this stage is around the industry average over the next few years, the company should see several of its products eventually earn approval and start contributing to its financial results.
Of course, some of them look more promising than others. For instance, Pfizer's investigational cancer drug, PF'4404, is undergoing late-stage clinical studies across some forms of colorectal cancer and lung cancer, which are the top two leading causes of cancer death worldwide. Pfizer will likely test the medicine in other areas as well and has argued that PF'4404 could essentially become a pipeline-in-a-drug, earning approval across a wide variety of indications.
If all goes well, this could become a blockbuster product. Pfizer's investigational GLP-1 weight loss therapy, berobenatide, looks promising too. It could be administered monthly, versus the weekly administration of the current leading weight loss drugs. Pfizer could successfully tap into the fast-growing weight loss market with this medicine. Several other candidates are also worth keeping an eye on.
Is the dividend safe?
Another good reason to consider Pfizer stock is its dividend, but given upcoming patent cliffs, some investors may worry that the drugmaker's juicy 6.2% yield isn't safe. My view is that Pfizer is on the right track to turn things around, and given that it has continued to increase its payouts despite worsening financial results, the dividend is safe. Now, Pfizer stock isn't for everyone.
Growth-oriented investors will want to look elsewhere. But for income-seekers focused on the long game, the company looks attractive at current levels, especially given that it trades at just 9.7x forward earnings, compared with an average of 18.3x for healthcare stocks. So, for patient dividend investors looking for bargains, the stock is a buy.
Should you buy stock in Pfizer right now?
Before you buy stock in Pfizer, consider this:
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Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Pfizer Stock: Buy, Sell, or Hold?

Key Points
Pfizer's stock has been struggling for multiple years, and it trades at a low valuation.
Its dividend yield may seem high, but the payout isn't at risk.
Pfizer (NYSE:PFE) has been a reliable healthcare company to invest in for decades, also providing shareholders with some terrific dividend income along the way. Nowadays, however, it's struggling to attract any investors at all.
While its shares are up over 10% this year, over the past five years, they're still down 35%. Worries about its future growth and the safety of the payout are keeping investors away. Here's why I think that's a mistake, and why it may just be the most underrated dividend stock out there today.
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Image source: Getty Images.
The stock's 6.2% yield is not as risky as it appears
Many investors may scoff at stocks that have high yields, out of fear that they simply are too good to be true, and that a cut could be due. But that isn't always the case. In fact, there can be low and modest-yielding stocks that can be riskier. Yield is not always indicative of risk.
What matters are the underlying earnings and cash flow numbers. Pfizer's free cash flow has totaled $11 billion over the past four quarters, which is over $1 billion more than what it has paid in dividends during that time frame.
The healthcare company has been incurring losses recently, but that has been largely the result of writedowns and non-cash expenses. Its adjusted per-share earnings in its most recent quarter came in at $0.77, which is higher than the rate of its quarterly dividend ($0.43). Thus, its 6.2% yield doesn’t look all that risky.
Pfizer has been focusing on making its business leaner, and restructuring expenses have weighed on its financials. But ultimately, it should come out with better margins and strong profits.
Pfizer's low valuation compensates investors for uncertainty ahead
Due to the steep sell-off in recent years, Pfizer's stock is looking incredibly undervalued right now. It's trading at a forward price-to-earnings multiple of just 10. That's based on analyst expectations for future earnings. That's far lower than the S&P 500 average of 20.
The company is facing patent cliffs on some of its top drugs, but it has also been investing in its future growth and expanding its pipeline of drug candidates. Currently, it has 95 candidates. Even if not all of them succeed, a few solid ones could reenergize growth and alleviate concerns about the stock.
Pfizer is a stock that looks well overdue for a rally. Although it's been rising this year, it can still have much more to rise. At a low valuation and with an incredibly high dividend yield, it's one of the best stocks to buy right now.
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David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer. The Motley Fool has a disclosure policy.