Pfizer (NYSE:PFE) Trading 0.3% Higher

Pfizer Inc. (NYSE:PFE)’s share price rose 0.3% during mid-day trading on Friday . The stock traded as high as $29.09 and last traded at $29.05. Approximately 6,449,922 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 37,548,887 shares. The stock had previously closed at $28.97.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. UBS Group boosted their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The business has a 50 day simple moving average of $29.32 and a 200 day simple moving average of $28.29. The stock has a market cap of $165.52 billion, a PE ratio of -484.17, a P/E/G ratio of 1.26 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. On average, equities research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PFE. Wellington Management Group LLP raised its position in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after acquiring an additional 2,241,609 shares during the period. Van ECK Associates Corp raised its holdings in Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after acquiring an additional 290,760 shares during the period. Federated Hermes Inc. raised its holdings in Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after acquiring an additional 470,003 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Pfizer by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after acquiring an additional 238,850 shares during the period. 68.36% of the stock is owned by institutional investors.

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.