Billionaires Are Buying Up Beaten-Down Pfizer Stock. Should You Follow Their Lead?

Nobody can predict the future, but it's not hard to imagine increasing pharmaceutical sales. In 2022, prescription drug spending in the U.S. climbed more than 8% to reach $406 billion. It's a lot but still less than one-third of the amount soaked up by American hospitals.It might not feel like it when you pay the bill, but prescription drugs give healthcare systems a tremendous return on their investment. With this in mind, it's no wonder billionaires are buying up shares of one of America's largest pharmaceutical companies, Pfizer (NYSE: PFE).In the third quarter, Jeff Yass and the Susquehanna fund he manages raised its Pfizer stake to 10.3 million shares. Igor Tulchinsky more than doubled the size of WorldQuant Millennium Advisors' Pfizer stake by purchasing 1.2 million shares.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool