Top 5 Gainers Today

2. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 70

Pfizer Inc. (NYSE:PFE) is next on the list of top 5 gainers today. The stock rose over two percent in mid-day trading Tuesday after the pharmaceutical giant posted better-than-expected results for the third quarter.

The New York-based company earned $1.78 per share on an adjusted basis, up from $1.27 per share in the corresponding period of 2021. Revenue came in at $22.6 billion versus $24.03 billion in the year-ago quarter. Analysts expected Pfizer Inc. (NYSE:PFE) to post earnings of $1.39 per share on revenue of $21.1 billion.

Pfizer Inc. (NYSE:PFE) also raised its financial outlook for the full year. The company now expects adjusted earnings in the range of $6.40 – $6.50 per share and revenue between $99.5 – $102 billion for fiscal 2022.

Separately, investment management firm Diamond Hill Capital talked about Pfizer Inc. (NYSE:PFE) in its third-quarter 2022 investor letter, stating:

“Also among our bottom contributors were health care products manufacturer Abbott Labs, global pharmaceutical company Pfizer Inc. (NYSE:PFE), media and technology giant Alphabet, and insurance company American International Group (AIG). Although Pfizer continues to report strong performance of its core drugs, sales of its COVID vaccine and treatment have likely peaked and sales are expected to decline going forward. We remain optimistic about the company long term as we believe management is taking the company in the right direction, focusing R&D, and making strategic acquisitions with profits generated from COVID vaccine sales.”