Pfizer (NYSE:PFE)‘s stock had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald in a note issued to investors on Wednesday. They currently have a $53.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 18.67% from the stock’s previous close.
The analysts wrote, “. We reiterate our Overweight rating and raise our 12-month PT for PFE shares to $53 from $45. The increase in our PT is driven by multiple expansion. We think this is deserved because respectable earnings growth, driven by Innovative Medicines, recent pipeline advancements, and return of capital to PFE’s shareholders — above the industry average — are all still underappreciated.””
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. restated a “buy” rating on shares of Pfizer in a research report on Tuesday, July 31st. Goldman Sachs Group restated a “neutral” rating and set a $42.00 target price on shares of Pfizer in a research report on Wednesday, August 1st. Deutsche Bank set a $45.00 target price on Pfizer and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Finally, Credit Suisse Group set a $40.00 target price on Pfizer and gave the stock a “neutral” rating in a research report on Tuesday, August 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.80.
Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.07. The company had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.30 billion. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 EPS. Research analysts anticipate that Pfizer will post 2.99 EPS for the current fiscal year.
In other Pfizer news, VP Loretta V. Cangialosi sold 26,814 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $40.16, for a total transaction of $1,076,850.24. Following the completion of the transaction, the vice president now owns 102,360 shares of the company’s stock, valued at approximately $4,110,777.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Pfizer Inc purchased 55,556 shares of Pfizer stock in a transaction on Monday, October 15th. The shares were purchased at an average cost of $18.00 per share, with a total value of $1,000,008.00. Following the transaction, the insider now owns 21,976,484 shares in the company, valued at $395,576,712. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 234,096 shares of company stock valued at $9,366,617. Insiders own 0.06% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PFE. Eagle Capital Management LLC raised its stake in Pfizer by 1.4% in the 3rd quarter. Eagle Capital Management LLC now owns 84,453 shares of the biopharmaceutical company’s stock valued at $3,722,000 after acquiring an additional 1,173 shares during the period. Adams Asset Advisors LLC raised its stake in Pfizer by 0.8% in the 3rd quarter. Adams Asset Advisors LLC now owns 157,717 shares of the biopharmaceutical company’s stock valued at $6,951,000 after acquiring an additional 1,182 shares during the period. Exeter Financial LLC raised its stake in Pfizer by 3.9% in the 2nd quarter. Exeter Financial LLC now owns 31,817 shares of the biopharmaceutical company’s stock valued at $1,154,000 after acquiring an additional 1,195 shares during the period. Smart Portfolios LLC raised its stake in Pfizer by 43.9% in the 2nd quarter. Smart Portfolios LLC now owns 3,935 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 1,200 shares during the period. Finally, Private Capital Group LLC raised its stake in Pfizer by 4.8% in the 2nd quarter. Private Capital Group LLC now owns 26,685 shares of the biopharmaceutical company’s stock valued at $968,000 after acquiring an additional 1,215 shares during the period. 69.05% of the stock is owned by hedge funds and other institutional investors.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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