The world’s largest drug manufacturer, Pfizer Inc. (NYSE:PFE) was questioned by US watchdogs that how it surprisingly reported huge profit overseas and shortfalls in US when almost 40 percent of its sales came from home market.
In a May 9 letter filed on Friday, Securities and Exchange Commission staff questioned New York-located company to explain why earnings before taxes (EBT) in foreign markets came $15 billion last year while shortfalls in the home market were $2.2 billion.
By uniting profit in low-tax jurisdictions overseas, Pfizer (PFE) has been capableof reducing its tax rate given to investors and improved bottom line.
Its competitors include Merck & Co., Inc. (NYSE:MRK) that surged +0.35% to $46.28 with the total traded volume of 11.89 million shares and Novartis AG (ADR) (NYSE:NVS) that dropped -0.05% to $62.70 with the total traded volume of 1.61 million shares.
Other Healthcare stocks with bullish trend include Medtronic, Inc. (NYSE:MDT) up 1.48% to $44.67, Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) up 0.21% to $19.40 and Abbott Laboratories (NYSE:ABT) up 1.17% to $71.61, whereas with bearish trend include Cell Therapeutics Inc (NASDAQ:CTIC) down -24.92% to $1.53, Boston Scientific Corporation (NYSE:BSX) down -0.86% to $5.76 and Tenet Healthcare Corporation (NYSE:THC) down -1.43% to $6.19.
Pfizer Inc. (NYSE:PFE) jumped +0.67% or +$0.17 to close the trading at $25.52following it hit intra day high level of $25.59. The total traded volume in the previous trading session was 24.67 million shares as compared to average 26.35 million shares. Its fifty two week trading range was $18.15 – $25.59. The total market capitalization reached $190.62 billion.
The stock price was ahead its 52 week low price with 52.61% and it looking forward 0.20% from its 52 week maximum mark. Stock price volatility for last month remained 1.18%. In its share capital, the company has 7.47 billion outstanding shares out of which 7.47 billion shares have been floated in the market. For now, stock ownership with company’s management remained 0.02%.
PFE presented an optimistic weekly performance of 2.70% with respect to its rate of return and it remained 4.85% for the month. However, the performance for a quarter experienced a positive change of 13.73% and it surged 45.58% for a year and its year to date performance remained in green with 21.47%.
Current stock price is in the upbeat territory taking into account of 20 days moving average with 3.99% and continued bullish run for 50 days moving average with +5.73%. Its earning per share for the past twelve months was $9.08. Company’s beta coefficient was at 0.71. Beta measures the amount of market risk associated with market trade.
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