Pfizer (NYSE:PFE) Shares Up 0.4%

Pfizer Inc. (NYSE:PFE)’s share price rose 0.4% during trading on Thursday . The stock traded as high as $27.93 and last traded at $27.89. Approximately 7,034,138 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 43,280,914 shares. The stock had previously closed at $27.78.

Analyst Upgrades and Downgrades

PFE has been the subject of several analyst reports. Barclays cut their price target on shares of Pfizer from $34.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, December 14th. Guggenheim began coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective for the company. UBS Group lowered their target price on Pfizer from $34.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. TD Cowen cut shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research report on Thursday, January 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Friday, March 1st. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Pfizer presently has an average rating of “Hold” and a consensus price target of $36.88.

Pfizer Price Performance

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 business has a 50-day simple moving average of $27.47 and a two-hundred day simple moving average of $29.47. The stock has a market capitalization of $157.14 billion, a price-to-earnings ratio of 77.25, a P/E/G ratio of 1.24 and a beta of 0.61.

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

Institutional Investors Weigh In On Pfizer

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its stake in shares of Pfizer by 89,592.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after purchasing an additional 160,963,976 shares during the period. Norges Bank bought a new position in Pfizer in the 4th quarter valued at approximately $2,129,927,000. Wellington Management Group LLP grew its holdings 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 acquiring an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after acquiring an additional 9,393,992 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Pfizer by 13.8% in 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 acquiring an additional 8,298,920 shares in the last quarter. Institutional investors 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.