Pfizer Inc. (NYSE:PFE) is planning to file initiatives for an initial public offering for a minority stake in its animal health unit, which would be termed as Zoetis.
The pharmaceutical giant reported that it anticipates offering more explanations when it launches its second-quarter financial report.
Ian Read, Chairman and Chief Executive reported that Pfizer is on course to form the separate firm by its objective of July 2013.
The Wall Street Journal announced in April that Pfizer was predicted to file IPO-listing documents this summer for the business, which manufactures medicines and vaccines for companion and farm animals. According to The Journal, at the time sale of the unit could not be ruled out also.
Its competitors include Merck & Co., Inc. (NYSE:MRK) that surged 0.92% to $38.25 with the total traded volume of 1.24 million shares and Novartis AG (ADR) (NYSE:NVS) that traded at flat to $52.41 with the total traded volume of 330,398.00 shares.
Other healthcare stocks with bullish trend include Amarin Corporation plc (ADR) (NASDAQ:AMRN) up 0.86% to $11.77, MAKO Surgical Corp. (NASDAQ:MAKO) up 5.76% to $25.48 and Eli Lilly & Co. (NYSE:LLY) up 0.88% to $41.37, whereas with bearish trend include Hologic, Inc. (NASDAQ:HOLX) down -0.12% to $16.90, Molina Healthcare, Inc. (NYSE:MOH) down -29.97% to $18.04 and Johnson & Johnson (NYSE:JNJ) down -0.19% to $62.68.
Pfizer Inc. (NYSE:PFE) after opening at $21.96 hit high price of $22.13 and then trading at $22.13 by surging 1.00% at 10:30AM EDT and on current session volume of 4.72 million shares is surprisingly lower than its average volume of 42.35 million shares.
The stock price volatility was 1.46% for a week and 1.57% for a month as well as price volatility’s Average True Range for 14 days was 0.34 and its beta remained 0.71.
The liquidity measure in recent quarter results of the company was recorded 2.02 as current ratio and on the other side the debt to equity ratio was 0.47 and long-term debt to equity ratio also remained 0.40. The Company had total cash at hand $23.99 billion and a book value per share as $11.11 in the most recent quarter.
PFE generated revenue of 66.33 billion in the following twelve months and earned $8.28 billion. The Company showed a positive 12.54% in the net profit margin and as well as in its operating margin which remained 18.39%. Company’s annual sales growth for the past five year was 6.87%.
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