Pfizer, Inc. (PFE) Lifted to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Pfizer, Inc. (NYSE:PFE) from an equal weight rating to an overweight rating in a research report released on Wednesday morning, MarketBeat.com reports. Morgan Stanley currently has $39.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $35.00.

A number of other equities research analysts have also recently commented on PFE. Berenberg Bank reaffirmed a hold rating and issued a $36.00 target price (down from $39.00) on shares of Pfizer in a report on Tuesday, August 15th. Jefferies Group LLC set a $37.00 price target on shares of Pfizer and gave the stock a neutral rating in a report on Monday, September 18th. Sanford C. Bernstein set a $39.00 price target on shares of Pfizer and gave the stock a buy rating in a report on Tuesday, September 19th. BidaskClub raised shares of Pfizer from a strong sell rating to a sell rating in a report on Saturday, August 5th. Finally, Cowen and Company set a $43.00 price target on shares of Pfizer and gave the stock a buy rating in a report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Pfizer has a consensus rating of Hold and a consensus price target of $38.04.

Pfizer (NYSE:PFE) opened at 35.96 on Wednesday. Pfizer has a 1-year low of $29.83 and a 1-year high of $36.12. The stock has a market cap of $213.87 billion, a price-to-earnings ratio of 26.31 and a beta of 1.00. The firm’s 50 day moving average price is $33.78 and its 200-day moving average price is $33.53.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Pfizer had a net margin of 15.84% and a return on equity of 24.51%. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $13.08 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The business’s revenue was down 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Pfizer will post $2.56 earnings per share for the current year.

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In other news, CEO Ian C. Read sold 96,950 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $34.00, for a total value of $3,296,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sally Susman sold 38,230 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $35.00, for a total transaction of $1,338,050.00. Following the completion of the sale, the insider now owns 145,649 shares in the company, valued at $5,097,715. The disclosure for this sale can be found here. Insiders sold 464,521 shares of company stock worth $15,813,961 over the last quarter. Company insiders own 0.06% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Northstar Group Inc. grew its position in shares of Pfizer by 0.4% in the second quarter. Northstar Group Inc. now owns 8,602 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 35 shares during the last quarter. Peregrine Asset Advisers Inc. grew its position in shares of Pfizer by 0.5% in the second quarter. Peregrine Asset Advisers Inc. now owns 7,354 shares of the biopharmaceutical company’s stock valued at $247,000 after purchasing an additional 35 shares during the last quarter. Northwest Quadrant Wealth Management LLC grew its position in shares of Pfizer by 0.8% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 6,329 shares of the biopharmaceutical company’s stock valued at $211,000 after purchasing an additional 50 shares during the last quarter. River Wealth Advisors LLC grew its position in shares of Pfizer by 0.3% in the second quarter. River Wealth Advisors LLC now owns 15,818 shares of the biopharmaceutical company’s stock valued at $531,000 after purchasing an additional 55 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its position in shares of Pfizer by 0.5% in the second quarter. Meridian Wealth Management LLC now owns 11,966 shares of the biopharmaceutical company’s stock valued at $402,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 69.00% of the company’s stock.

Pfizer Company Profile

Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).

Analyst Recommendations for Pfizer (NYSE:PFE)

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