Pfizer (NYSE:PFE) Trading Up 0.7%

Pfizer Inc. (NYSE:PFE) was up 0.7% on Wednesday . The company traded as high as $27.85 and last traded at $27.77. Approximately 7,257,993 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 43,441,629 shares. The stock had previously closed at $27.59.

Analysts Set New Price Targets

A number of brokerages recently commented on PFE. UBS Group lowered their price objective on Pfizer from $34.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, December 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Friday, March 1st. TD Cowen lowered Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a research report on Thursday, January 4th. Barclays cut their price objective on Pfizer from $34.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, December 14th. Finally, Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.88.

Pfizer Stock Performance

The company has a market cap of $157.14 billion, a P/E ratio of 77.08, a price-to-earnings-growth ratio of 1.24 and a beta of 0.61. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $27.46 and a two-hundred day moving average price of $29.46.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.37 billion. During the same quarter last year, the business posted $1.14 EPS. The company’s revenue was down 41.3% compared to the same quarter last year. On average, research analysts predict that Pfizer Inc. will post 2.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently modified their holdings of PFE. Moneta Group Investment Advisors LLC raised its position in Pfizer by 89,592.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock worth $8,257,000,000 after purchasing an additional 160,963,976 shares during the last quarter. Norges Bank bought a new position in Pfizer during the 4th quarter worth $2,129,927,000. Wellington Management Group LLP raised its position in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Pfizer by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after purchasing an additional 9,393,992 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after purchasing an additional 8,298,920 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.