Pfizer (NYSE:PFE) Trading Down 0.9%

Pfizer Inc. (NYSE:PFE) shares dropped 0.9% during mid-day trading on Tuesday . The stock traded as low as $28.60 and last traded at $28.69. Approximately 6,716,796 shares changed hands during trading, a decline of 82% from the average daily volume of 37,430,703 shares. The stock had previously closed at $28.94.

Analyst Upgrades and Downgrades

PFE has been the topic of several research reports. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Monday, September 16th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Barclays increased their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

The company has a market capitalization of $162.46 billion, a price-to-earnings ratio of -478.17, a PEG ratio of 1.27 and a beta of 0.68. The stock has a 50-day moving average price of $29.29 and a 200-day moving average price of $28.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period last year, the firm posted $0.67 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Institutional Trading of Pfizer

Hedge funds have recently added to or reduced their stakes in the company. LGT Group Foundation lifted its holdings in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after purchasing an additional 18,274 shares during the last quarter. ORG Partners LLC increased its stake in Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 44,458 shares during the period. Kempner Capital Management Inc. bought a new position in Pfizer during the 1st quarter worth $2,439,000. Leo Wealth LLC bought a new position in Pfizer during the 4th quarter worth $2,171,000. Finally, Power Corp of Canada increased its stake in Pfizer by 28.1% during the 4th quarter. Power Corp of Canada now owns 174,201 shares of the biopharmaceutical company’s stock worth $5,015,000 after acquiring an additional 38,243 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

About Pfizer

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.