Pfizer (NYSE:PFE) Trading Down 0.6%

Pfizer Inc. (NYSE:PFE)’s stock price traded down 0.6% during trading on Thursday . The company traded as low as $28.31 and last traded at $28.76. 10,493,535 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 37,593,551 shares. The stock had previously closed at $28.93.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PFE shares. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, September 16th. Barclays increased their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a market cap of $163.42 billion, a P/E ratio of -479.33, a PEG ratio of 1.26 and a beta of 0.68. The company has a fifty day moving average price of $29.34 and a two-hundred day moving average price of $28.28.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Institutional Trading of Pfizer

A number of hedge funds and other institutional investors have recently made changes to their positions in PFE. Olistico Wealth LLC bought a new stake in Pfizer during the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer in the 2nd quarter valued at approximately $29,000. Quarry LP bought a new position in shares of Pfizer in the second quarter valued at $31,000. Creekmur Asset Management LLC acquired a new position in Pfizer during the fourth quarter worth $32,000. Finally, Trivant Custom Portfolio Group LLC raised its position in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.