Pfizer (NYSE:PFE) Trading 0.2% Higher – What’s Next?

Pfizer Inc. (NYSE:PFE)’s stock price was up 0.2% during trading on Thursday . The company traded as high as $24.86 and last traded at $24.74. Approximately 16,263,159 shares were traded during trading, a decline of 58% from the average daily volume of 39,158,284 shares. The stock had previously closed at $24.70.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PFE. Bank of America reissued a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Truist Financial dropped their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Finally, UBS Group cut their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Stock Performance

The stock has a market cap of $137.79 billion, a PE ratio of 17.23, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock has a 50-day simple moving average of $25.98 and a 200-day simple moving average of $26.83.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

A number of large investors have recently modified their holdings of the stock. Nordea Investment Management AB grew its position in Pfizer by 36.1% in the fourth quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock valued at $108,002,000 after acquiring an additional 1,080,822 shares in the last quarter. Parsons Capital Management Inc. RI grew its holdings in Pfizer by 118.7% during the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company’s stock valued at $7,820,000 after purchasing an additional 159,984 shares in the last quarter. Copley Financial Group Inc. acquired a new position in shares of Pfizer in the third quarter worth about $577,000. Zacks Investment Management increased its holdings in Pfizer by 10.9% during the 3rd quarter. Zacks Investment Management now owns 2,389,138 shares of the biopharmaceutical company’s stock worth $69,142,000 after purchasing an additional 235,243 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Pfizer by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after buying an additional 1,855,419 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.