Pfizer (NYSE:PFE) Cut to “Buy” at StockNews.com

Pfizer (NYSE:PFE) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

A number of other analysts also recently weighed in on PFE. Barclays boosted their target price 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. UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Stock Up 0.5 %

PFE opened at $25.06 on Wednesday. The company has a market capitalization of $142.03 billion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 0.80 and a beta of 0.67. The firm has a 50-day simple moving average of $28.28 and a two-hundred day simple moving average of $28.58. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the prior year, the company earned ($0.17) EPS. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. Analysts forecast that Pfizer will post 2.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently modified their holdings of PFE. Charles Schwab Investment Management Inc. increased its holdings in Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after buying an additional 8,378,173 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after acquiring an additional 6,977,587 shares in the last quarter. Swedbank AB purchased a new stake in shares of Pfizer in the first quarter valued at approximately $172,902,000. Finally, International Assets Investment Management LLC purchased a new position in Pfizer during the third quarter worth approximately $146,481,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.