Pfizer (NYSE:PFE – Get Rating) had its price objective lowered by equities research analysts at Morgan Stanley from $52.00 to $49.00 in a report released on Friday, The Fly reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target indicates a potential downside of 7.84% from the company’s current price.
Several other equities research analysts have also recently issued reports on PFE. SVB Leerink started coverage on shares of Pfizer in a research report on Monday, May 23rd. They issued a “market perform” rating and a $55.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Pfizer from $60.00 to $55.00 in a research report on Wednesday, May 4th. Berenberg Bank set a $50.00 price objective on shares of Pfizer in a research report on Friday, May 27th. The Goldman Sachs Group set a $51.00 price objective on shares of Pfizer in a research report on Wednesday, May 25th. Finally, Barclays set a $52.00 price target on shares of Pfizer in a research report on Thursday. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.95.
PFE stock opened at $53.17 on Friday. Pfizer has a 12 month low of $39.46 and a 12 month high of $61.71. The company has a current ratio of 1.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $50.98 and a 200 day moving average price of $51.84. The stock has a market cap of $298.33 billion, a PE ratio of 12.19, a P/E/G ratio of 0.65 and a beta of 0.73.
Pfizer (NYSE:PFE – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.04). Pfizer had a return on equity of 38.29% and a net margin of 26.97%. The firm had revenue of $25.66 billion for the quarter, compared to analysts’ expectations of $24.73 billion. During the same period in the prior year, the firm posted $0.93 earnings per share. Pfizer’s revenue for the quarter was up 76.8% on a year-over-year basis. Sell-side analysts forecast that Pfizer will post 6.63 EPS for the current year.
In other news, EVP William R. Carapezzi, Jr. sold 32,908 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $50.00, for a total value of $1,645,400.00. Following the sale, the executive vice president now directly owns 38,146 shares of the company’s stock, valued at approximately $1,907,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jennifer B. Damico sold 4,218 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $53.96, for a total transaction of $227,603.28. Following the completion of the sale, the senior vice president now directly owns 10,846 shares in the company, valued at $585,250.16. The disclosure for this sale can be found here. Insiders have sold a total of 41,126 shares of company stock worth $2,075,003 in the last 90 days. 0.05% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ullmann Wealth Partners Group LLC boosted its holdings in Pfizer by 6.2% during the first quarter. Ullmann Wealth Partners Group LLC now owns 5,759 shares of the biopharmaceutical company’s stock worth $298,000 after buying an additional 335 shares in the last quarter. Red Door Wealth Management LLC lifted its holdings in Pfizer by 8.6% during the first quarter. Red Door Wealth Management LLC now owns 109,620 shares of the biopharmaceutical company’s stock valued at $5,675,000 after purchasing an additional 8,694 shares in the last quarter. Capital City Trust Co. FL lifted its holdings in Pfizer by 49.9% during the first quarter. Capital City Trust Co. FL now owns 8,464 shares of the biopharmaceutical company’s stock valued at $438,000 after purchasing an additional 2,816 shares in the last quarter. Colonial River Wealth Management LLC raised its position in shares of Pfizer by 52.3% in the first quarter. Colonial River Wealth Management LLC now owns 20,988 shares of the biopharmaceutical company’s stock valued at $1,087,000 after buying an additional 7,206 shares during the last quarter. Finally, Annex Advisory Services LLC raised its position in shares of Pfizer by 23.6% in the first quarter. Annex Advisory Services LLC now owns 10,279 shares of the biopharmaceutical company’s stock valued at $532,000 after buying an additional 1,966 shares during the last quarter. 66.50% of the stock is currently owned by hedge funds and other institutional investors.
About Pfizer (Get Rating)
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women’s health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.
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