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Market Update: Pfizer Inc (NYSE:PFE) – Pfizer blocks its drugs from use in lethal injections

[Reuters] – Pfizer Inc has taken steps to ensure that none of its products are used in lethal injections, the largest U.S. drugmaker said on Friday. “We are enforcing a distribution restriction for specific products that have been part of, or considered by some states for, their lethal injection protocols,” the New York-based drugmaker said on its website. The list of products includes the powerful anesthetic propofol, the drug that caused the death of pop superstar Michael Jackson. Read more on this. Pfizer Inc. (PFE) , with a current market cap of $205.51B, opened at $33.33. Looking at today’s market, PFE one day range is $33.13 to $33.45 and has traded between $28.25 and $36.46 over the past year. PFE shares are currently priced at 13.60x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 5.38x earnings multiple. The company pays shareholders $1.20 per share annually in dividends, yielding 3.62%. Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $0.62 per share, which would be $0.06 better than the year-ago quarter and a $0.03 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $2.44 would be a $0.24 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $12.93 Billion. If reported, that would be a 9.11% increase over the year-ago quarter. Recently, Berenberg Initiated PFE at Hold (May 12, 2016). Previously, Sun Trust Rbsn Humphrey upgraded PFE from Reduce to Neutral. Investors should keep in mind is that the average price target is $38.55, which is 15.66% above where the stock opened this morning. See more in (NYSE:PFE) Similar Articles: Market Update: Pfizer Inc (NYSE:PFE) – Pfizer Receives Expanded FDA Approval For IBRANCE (palbociclib) In HR+, HER2- Metastatic Breast Cancer Market Update: Pfizer Inc (NYSE:PFE) – Pfizer unit to pay $784.6 mln in Medicaid rebate settlement Market Update: Pfizer Inc (NYSE:PFE) – Biosimilar drugs get boost as UK cost agency backs their use
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