Pfizer (NYSE:PFE) Trading Up 0.8% – Here’s What Happened

Pfizer Inc. (NYSE:PFE)’s stock price rose 0.8% during mid-day trading on Tuesday . The company traded as high as $26.34 and last traded at $26.26. Approximately 6,990,184 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 35,704,997 shares. The stock had previously closed at $26.05.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PFE shares. Guggenheim restated a “buy” rating on shares of Pfizer in a research note on Tuesday. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Bank of America restated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Citigroup lowered their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Price Performance

The company has a fifty day simple moving average of $26.22 and a 200 day simple moving average of $27.10. The stock has a market capitalization of $148.37 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping 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 company had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Pfizer by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company’s stock valued at $13,756,738,000 after acquiring an additional 2,285,276 shares during the period. State Street Corp raised its holdings in shares of Pfizer by 1.2% during the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after purchasing an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Geode Capital Management LLC boosted its position in shares of Pfizer by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company’s stock worth $3,190,131,000 after purchasing an additional 2,923,537 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Pfizer in the 4th quarter valued at about $2,328,986,000. 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.