Pfizer (NYSE:PFE) Shares Down 1.5% – Here’s Why

Pfizer Inc. (NYSE:PFE)’s share price fell 1.5% during trading on Tuesday . The company traded as low as $24.72 and last traded at $24.97. 11,670,036 shares traded hands during trading, a decline of 74% from the average session volume of 44,726,215 shares. The stock had previously closed at $25.34.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PFE shares. UBS Group decreased their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citigroup lowered their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Bank of America reissued a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Finally, Guggenheim restated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Trading Down 2.7 %

The company has a 50-day moving average price of $26.05 and a two-hundred day moving average price of $26.88. The stock has a market cap of $139.83 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating 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 firm had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis. On average, research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Hedge funds have recently made changes to their positions in the company. United Bank increased its holdings in Pfizer by 3.7% during the third quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock valued at $1,030,000 after buying an additional 1,277 shares during the period. Tradition Wealth Management LLC increased its holdings in shares of Pfizer by 4.5% in the 3rd quarter. Tradition Wealth Management LLC now owns 25,358 shares of the biopharmaceutical company’s stock valued at $734,000 after acquiring an additional 1,099 shares during the period. Erste Asset Management GmbH bought a new position in shares of Pfizer in the 3rd quarter worth $16,776,000. Benjamin Edwards Inc. lifted its stake in shares of Pfizer by 1,399.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 240,258 shares of the biopharmaceutical company’s stock worth $6,953,000 after purchasing an additional 224,240 shares during the last quarter. Finally, Ascent Group LLC boosted its position in Pfizer by 23.3% during the third quarter. Ascent Group LLC now owns 62,712 shares of the biopharmaceutical company’s stock valued at $1,815,000 after purchasing an additional 11,867 shares in the last quarter. 68.36% of the stock is currently 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.