Pfizer (NYSE:PFE) Trading Up 1.2% – What’s Next?

Pfizer Inc. (NYSE:PFE)’s share price shot up 1.2% during trading on Monday . The stock traded as high as $22.21 and last traded at $22.18. 16,697,014 shares were traded during mid-day trading, a decline of 58% from the average session volume of 40,143,759 shares. The stock had previously closed at $21.91.

Wall Street Analyst Weigh In

PFE has been the topic of a number of research reports. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Citigroup restated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. UBS Group cut their price objective on shares of Pfizer from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Truist Financial dropped their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.07.

Pfizer Price Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a 50 day moving average of $25.09 and a 200-day moving average of $26.31. The company has a market cap of $127.30 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating 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 firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Pfizer’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 year.

Insider Buying and Selling at Pfizer

In related news, Director Ronald E. Blaylock bought 19,457 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Pfizer in the 4th quarter worth $2,328,986,000. Charles Schwab Investment Management Inc. raised its position in shares of Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares during the last quarter. Starboard Value LP purchased a new position in Pfizer in the 4th quarter valued at about $407,730,000. Raymond James Financial Inc. acquired a new stake in Pfizer in the 4th quarter worth about $274,694,000. Finally, Assenagon Asset Management S.A. increased its stake in Pfizer by 307.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock worth $254,574,000 after buying an additional 7,581,030 shares in 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.