Pfizer (NYSE:PFE) Shares Down 0.8%

Pfizer Inc. (NYSE:PFE)’s share price fell 0.8% on Wednesday . The company traded as low as $25.68 and last traded at $25.69. 28,885,313 shares were traded during mid-day trading, a decline of 14% from the average session volume of 33,467,946 shares. The stock had previously closed at $25.91.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PFE. TD Cowen cut Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Thursday, January 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday. Guggenheim initiated coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 target price on the stock. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.88.

Pfizer Price Performance

The stock has a market cap of $143.74 billion, a price-to-earnings ratio of 70.51, a PEG ratio of 1.15 and a beta of 0.61. The company has a 50-day moving average of $27.14 and a 200-day moving average of $28.74. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was down 41.3% on a year-over-year basis. As a group, equities research analysts predict that Pfizer Inc. will post 2.24 earnings per share for the current year.

Institutional Investors Weigh In On Pfizer

A number of institutional investors have recently added to or reduced their stakes in PFE. RB Capital Management LLC boosted its holdings in Pfizer by 6.7% in the 1st quarter. RB Capital Management LLC now owns 5,446 shares of the biopharmaceutical company’s stock valued at $282,000 after purchasing an additional 341 shares in the last quarter. Ironwood Wealth Management LLC. boosted its stake in shares of Pfizer by 1.1% during the 1st quarter. Ironwood Wealth Management LLC. now owns 36,081 shares of the biopharmaceutical company’s stock worth $1,868,000 after acquiring an additional 400 shares in the last quarter. United Bank boosted its stake in shares of Pfizer by 0.6% during the 1st quarter. United Bank now owns 46,671 shares of the biopharmaceutical company’s stock worth $2,416,000 after acquiring an additional 290 shares in the last quarter. Ergoteles LLC boosted its stake in shares of Pfizer by 136.3% during the 1st quarter. Ergoteles LLC now owns 36,766 shares of the biopharmaceutical company’s stock worth $1,903,000 after acquiring an additional 21,209 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Pfizer by 6.4% during the 1st quarter. Mackenzie Financial Corp now owns 1,337,418 shares of the biopharmaceutical company’s stock worth $69,238,000 after acquiring an additional 79,887 shares in 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.