Replies to post #162998 on Biotech Values

[DewDiligence]

PFE’s 2013 non-GAAP EPS guidance is now $2.10-2.20, a reduction of 4 cents on the upper and lower bounds relative to prior guidance.

If EPS were calculated based on diluted shares outstanding at the end of a reporting period instead of the average number of diluted shares during the reporting period, the ZTS separation would’ve been accretive to PFE’s EPS during 2013. Starting in 2014, the ZTS separation will be accretive to PFE’s EPS as the lower share count will be in effect for the entire year.

[DewDiligence]

I got my first batch of ZTS shares under 30 today the old fashioned way from open market.

Nice trade. ZTS is a strong beneficiary of The Global Demographic Tailwind (#msg-84129296), and I especially like the agriculture sector.

My three ag stocks are MON, DE, and ZTS.

[DewDiligence]

This is PFE’s Form-4 filing for “disposing” of 401M shares of ZTS via the recent exchange offer:

http://www.sec.gov/Archives/edgar/data/78003/000007800313000014/xslF345X03/primary_doc.xml

Technically, the transaction had two steps: i) conversion of ZTS Class-B (super-voting rights) shares held by PFE into ZTS Class-A shares; and ii) “disposal” of 401M ZTS Class-A shares in the exchange for PFE's own shares.

ZTS now has only one class of shares and PFE has no equity stake whatsoever.