,"Pfizer Ltd. has announced a new strategic partnership with Gilead Sciences, Inc. that will focus on developing new treatments for various..."
Pfizer Inc. (NYSE: PFE) and its recent performance in the stock market have been a topic of discussion amongst traders and investors. Recently, multiple insiders offloaded a considerable amount of shares over the past year. This news has caused some to speculate about the future of the company and its stock.
In order to gain a better understanding of the current situation at Pfizer, it is important to look at the performance of the stock over the past year. According to TipRanks' comparison tool, the stock has gained 1.44% in the last 12 months and is currently trading at $38.09 per share. This means that the stock has performed better than the S&P 500 and the Nasdaq, which have both declined by 6.37% and 4.32%, respectively.
The recent performance of the stock may be due to the fact that Pfizer has been expanding its presence in the healthcare sector. The company recently acquired CVS Health (NYSE: CVS) for $65 billion. This acquisition has given the company access to the vast network of pharmacies and healthcare services offered by CVS. Additionally, the acquisition should help to increase Pfizer's presence in the United States.
In addition to the acquisition of CVS, Pfizer has also been expanding its presence in other areas of the healthcare sector. The company recently announced a strategic partnership with Gilead Sciences, Inc. This partnership will focus on developing new treatments for various diseases and conditions. Additionally, the company has also invested more than $2.5 billion in its drug making plants in Belgium and Ireland. This investment should help to launch new products in the near future.
Furthermore, the company has also been taking advantage of the recent pandemic by developing and distributing a vaccine for COVID-19. The vaccine is currently being distributed to countries around the world and should help to reduce the spread of the virus. This should help to increase the company's presence in the healthcare sector as well as its stock price.
Finally, the company has also been taking steps to ensure that its shareholders are well taken care of. The company recently announced that it would be increasing its dividend for the second consecutive quarter. This should help to attract more investors to the company and its stock.
