Pfizer (NYSE:PFE) Cut to Hold at StockNews.com

StockNews.com cut shares of Pfizer (NYSE:PFE) from a buy rating to a hold rating in a report released on Tuesday morning.

Other analysts have also recently issued research reports about the stock. Daiwa America raised shares of Pfizer from a moderate buy rating to a strong-buy rating in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an overweight rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, September 16th. Barclays increased their price objective on Pfizer from $30.00 to $32.00 and gave the company an equal weight rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an equal weight rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded Pfizer from a neutral rating to an outperform rating and upped their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $34.54.

Pfizer Price Performance

Pfizer stock opened at $28.35 on Tuesday. Pfizer has a 1 year low of $25.20 and a 1 year high of $34.08. The company’s fifty day moving average price is $29.21 and its 200 day moving average price is $28.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market capitalization of $160.65 billion, a P/E ratio of -472.50, a P/E/G ratio of 1.25 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate 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 business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the previous year, the firm earned $0.67 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Pfizer will post 2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pfizer

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

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.