Pfizer, a US-based pharmaceutical company, saw its share price increase after activist investor Starboard Value sold 8.5 million shares during the third quarter of this year. This move marks an end to Starboard’s efforts to boost the company’s stock price.
In October 2024, Pfizer was valued at $162 billion, but has since decreased in value. The sale came as part of a regulatory filing that shows Starboard’s holdings and dispositions.
Starboard had initially invested around $1 billion in Pfizer a year ago when its share prices were lower. Its push for change focused on holding management accountable for underperformance. However, it failed to gain cooperation from two former Pfizer executives.
Pfizer now has a market value of $142 billion after Starboard’s position was sold. Additionally, the hedge fund liquidated its stake in contract research organization Fortrea Holdings, selling 2.5 million shares during the third quarter.
Source: https://www.reuters.com/sustainability/sustainable-finance-reporting/activist-starboard-sells-pfizer-stake-after-pushing-changes-2025-11-14