5 Best Stocks Under $50

3. Pfizer Inc. (NYSE: PFE)

Number of Hedge Fund Holders: 65

Pfizer Inc. (NYSE: PFE) is a healthcare sector company manufacturing biopharmaceutical products across the globe. The company’s vaccine released in collaboration with BioNTech is among the most effective and widely distributed vaccines against the coronavirus. The stock ranks 3rd on our list of the best stocks under $50.

In June, the consensus price target on Pfizer Inc. (NYSE: PFE) was $42.30, roughly 7% more than the share price for the stock at the time. The company has made a $40 million equity investment in Spero Therapeutics, alongside signing a licensing agreement for the latter’s SPR206 as well. In the first quarter of 2021, Pfizer Inc. (NYSE: PFE) had an EPS of $0.93, beating estimates by $0.15. The company’s revenue was $14.58 billion, up 21.23% year over year and beating estimates by $961.32 million. The stock has gained 7.76% in the past 6 months and 7.93% year to date and it has a forward PE ratio of 10.74. Pfizer Inc. (NYSE: PFE) has a gross profit margin of 76.66%.

As of the end of the first quarter of 2021, 65 hedge funds out of the 866 tracked by Insider Monkey held stakes in Pfizer Inc. (NYSE: PFE), with a total stake value of about $2.01 billion. This is compared to 63 hedge funds in the previous quarter, with a total stake value of roughly $1.84 billion.

ClearBridge Investments, an investment management firm, mentioned Pfizer Inc. (NYSE: PFE) in its first-quarter 2021 investor letter. Here’s what they said:

“Our underweights in health care and staples contributed to relative performance during the period. As we continue to focus the portfolio on high-conviction ideas, we sold Pfizer in late 2020, in the health care sector.”