Pfizer Inc. (PFE) Sees Significant Decrease in Short Interest

Pfizer Inc. (NYSE:PFE) was the target of a large drop in short interest during the month of March. As of March 29th, there was short interest totalling 79,891,707 shares, a drop of 22.8% from the March 15th total of 103,486,562 shares. Based on an average daily volume of 20,066,872 shares, the short-interest ratio is currently 4.0 days. Currently, 1.4% of the shares of the company are short sold.

In related news, EVP Douglas M. Lankler sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $42.75, for a total value of $213,750.00. Following the completion of the sale, the executive vice president now directly owns 83,592 shares in the company, valued at approximately $3,573,558. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas M. Lankler sold 38,800 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $41.19, for a total transaction of $1,598,172.00. Following the completion of the sale, the executive vice president now owns 83,592 shares of the company’s stock, valued at $3,443,154.48. The disclosure for this sale can be found here. Insiders sold a total of 332,526 shares of company stock valued at $14,346,539 over the last quarter. 0.09% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Steinberg Global Asset Management increased its stake in Pfizer by 76.1% in the first quarter. Steinberg Global Asset Management now owns 223,949 shares of the biopharmaceutical company’s stock valued at $7,948,000 after acquiring an additional 96,767 shares during the last quarter. RPG Investment Advisory LLC increased its stake in Pfizer by 23.5% in the first quarter. RPG Investment Advisory LLC now owns 2,730 shares of the biopharmaceutical company’s stock valued at $116,000 after acquiring an additional 520 shares during the last quarter. Palisade Asset Management LLC increased its stake in Pfizer by 0.7% in the first quarter. Palisade Asset Management LLC now owns 56,105 shares of the biopharmaceutical company’s stock valued at $2,383,000 after acquiring an additional 391 shares during the last quarter. Welch Group LLC increased its stake in Pfizer by 5.3% in the first quarter. Welch Group LLC now owns 59,106 shares of the biopharmaceutical company’s stock valued at $2,510,000 after acquiring an additional 2,998 shares during the last quarter. Finally, Portland Global Advisors LLC increased its stake in Pfizer by 10.7% in the first quarter. Portland Global Advisors LLC now owns 21,165 shares of the biopharmaceutical company’s stock valued at $899,000 after acquiring an additional 2,042 shares during the last quarter. 69.53% of the stock is currently owned by institutional investors.

Shares of PFE opened at $42.09 on Tuesday. Pfizer has a 12 month low of $34.37 and a 12 month high of $46.47. The company has a market cap of $248.41 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.55 and a beta of 0.75. The company has a current ratio of 1.57, a quick ratio of 1.33 and a debt-to-equity ratio of 0.52.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Pfizer had a net margin of 20.79% and a return on equity of 26.02%. The company had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $13.92 billion. During the same period last year, the firm earned $0.62 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts predict that Pfizer will post 2.86 EPS for the current year.

Several research firms have weighed in on PFE. Credit Suisse Group set a $45.00 price target on shares of Pfizer and gave the company a “neutral” rating in a report on Tuesday, January 1st. Cantor Fitzgerald set a $53.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Sunday, December 30th. Zacks Investment Research raised shares of Pfizer from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Bank of America increased their price target on shares of Pfizer from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Citigroup reissued a “neutral” rating and issued a $41.00 price target on shares of Pfizer in a report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $45.61.

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About Pfizer

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

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