Pfizer (NYSE:PFE) Trading Down 2.7% on Analyst Downgrade

Pfizer Inc. (NYSE:PFE)’s stock price dropped 2.7% during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $28.00 to $24.00. UBS Group currently has a neutral rating on the stock. Pfizer traded as low as $20.92 and last traded at $21.24. Approximately 28,424,445 shares changed hands during trading, a decline of 29% from the average daily volume of 39,806,359 shares. The stock had previously closed at $21.84.

Other analysts have also issued reports about the stock. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research note on Tuesday. Truist Financial lowered their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, Citigroup reissued a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.07.

Insider Buying and Selling

In other news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, with a total value of $499,072.05. Following the acquisition, the director now owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pfizer

Large investors have recently bought and sold shares of the company. Czech National Bank raised its stake in shares of Pfizer by 5.9% during the 1st quarter. Czech National Bank now owns 1,301,574 shares of the biopharmaceutical company’s stock worth $32,982,000 after buying an additional 72,858 shares during the last quarter. Bond & Devick Financial Network Inc. lifted its holdings in Pfizer by 12.5% in the 1st quarter. Bond & Devick Financial Network Inc. now owns 20,904 shares of the biopharmaceutical company’s stock worth $530,000 after buying an additional 2,325 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in Pfizer by 15.7% in the first quarter. 180 Wealth Advisors LLC now owns 41,671 shares of the biopharmaceutical company’s stock valued at $1,056,000 after acquiring an additional 5,657 shares in the last quarter. Mirador Capital Partners LP grew its position in shares of Pfizer by 2.6% in the 1st quarter. Mirador Capital Partners LP now owns 36,913 shares of the biopharmaceutical company’s stock worth $935,000 after acquiring an additional 945 shares in the last quarter. Finally, Mechanics Bank Trust Department lifted its holdings in Pfizer by 2.5% in the first quarter. Mechanics Bank Trust Department now owns 95,913 shares of the biopharmaceutical company’s stock worth $2,430,000 after acquiring an additional 2,365 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 2.7 %

The firm has a market cap of $120.50 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $25.59 and its 200 day moving average price is $26.58.

Pfizer (NYSE:PFE) last released its earnings results 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 net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same period in the previous year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

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.