Despite New High, Pfizer Inc. (NYSE:PFE) Declines On A Class Action By Wyeth Shareholders
Pfizer Inc. (NYSE:PFE) shares scored new 52-week high but was unable to close up after a news that its unit Wyeth Pharmaceuticals Inc. must face a class action by shareholders alleging the drugmaker kept secret negative facts on Pristiq, an anti-depressant marketed as the first non- hormone menopause treatment.
U.S. District Judge Richard Sullivan has recently provided an approval to a request by two pension funds to take legal action on behalf of all shareholders who purchased Wyeth common equity from June 26, 2006, through July 24, 2007. The plaintiffs assert Wyeth deceived them by failing to provide data about Pristiq’s impacts on the heart and liver, which held back the drug’s approval by the U.S. Food and Drug Administration.
During the recent trading activity Pfizer Inc. (NYSE:PFE) held volume of 25.09 million shares with 7.47 billion shares outstanding and 7.47 billion shares floated in market. P/E ratio of the company was 20.88 and in the past twelve months company scored revenue of $63.88 billion and had $8.81 billion in earnings. The stock gave a gross margin of +80.49% whereas operating margin was +20.16%.
Pfizer kicked off the trading session at $23.94 and during the session dropped -0.04% and finally settled at $24.01. The latest dividend per share paid to stockholders in recent quarter, also known as div/yield was 3.67 for the firm. Beta value, the measure of stock’s risk in relation to its market or alternative benchmark was 0.67.
The healthcare sector firm’s top rivals include Merck & Co., Inc. (NYSE:MRK) that surged 0.18% to $44.08 with the total traded volume of 7.53 million shares and Novartis AG (ADR) (NYSE:NVS) that dropped -0.03% to $60.15 with the total traded volume of 2.09 million shares.
PFE is ahead of its 52 weeks low with 46.48% and lagging behind from its 52 weeks high price with -1.52%. PFE’s last month’s stock price volatility remained 1.07%. The stock price of PFE is moving forward from its 20 days moving average with +0.22% and remote positively from 50 days moving average with +1.48%.