5 Worst Performing Healthcare Stocks in 2023

4. Pfizer Inc. (NYSE:PFE) 

YTD Share Price Decline as of August 13: 29.69%

Number of Hedge Fund Holders: 73

Pfizer Inc. (NYSE:PFE) is a leading pharmaceutical giant that develops, manufactures, and distributes medicines, vaccines, and therapies globally. On August 1, Pfizer Inc. (NYSE:PFE) announced a Q2 non-GAAP EPS of $0.67, which beat expectations by $0.09. However, revenue was reported at $12.7 billion, which fell short of Wall Street estimates by $700 million. It was reported that this significant decline in revenue is attributable to the lack of sales generated by Paxlovid and Comirnaty, the COVID-19 medication and vaccine. 

According to Insider Monkey’s first quarter database, 73 hedge funds were bullish on Pfizer Inc. (NYSE:PFE). In comparison, this number was 75 in the preceding quarter. Cliff Asness’ AQR Capital Management is a prominent shareholder of the company, with 9.3 million shares valued at $380 million. 

Diamond Hill Capital made the following comment about Pfizer Inc. (NYSE:PFE) in its Q3 2022 investor letter:

“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.”