Jim Cramer’s Bold Predictions About These 10 Healthcare Stocks

3. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders In Q3 2024: 80

Date of Cramer’s Comments: 8-16-24

Performance Since Then: -6.5%

Pfizer Inc. (NYSE:PFE) is a global pharmaceutical giant that has struggled with high debt and activist investor pressure in 2024. The firm had $61.5 billion in long-term debt as of 2023 end, and its CEO is currently exploring the sale of its hospital drug unit to raise cash and reduce leverage (news that saw the stock drop by 14% over the next couple of days). Pfizer Inc. (NYSE:PFE)’s shares will be driven by cost-cutting through which the firm aims to deliver at least $4 billion in savings in 2024. It is also aggressively touting its COVID treatment Paxlovid as a cash cost, particularly as the drug brought in $2.7 billion in Q3 sales. Here’s what Cramer said about Pfizer Inc. (NYSE:PFE) in August:

“Pfizer has a 5% yield and some interesting drugs, but it’s a bit like when you trade for someone who costs $60 million and they end up performing like a penny stock.”