The past couple of years haven't been easy ones to be a (NYSE: PFE) shareholder. The windfall profits its COVID-19 products produced in the early days of the pandemic evaporated much faster than expected.

Disappointed investors have pushed Pfizer's stock price down by more than half from its peak in late 2021. Perhaps sensing a bargain, billionaire fund managers climbed over each other this year to scoop up shares of the pharmaceutical industry giant.

In the first quarter, Steve Cohen and Point72 Asset Management initiated a new Pfizer position with nearly 1 million shares. Jeff Yass at Susquehanna acquired about 1.5 million shares for a new position.

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Source Fool.com