Pfizer (NYSE:PFE) Trading Down 3.2% – What’s Next?

Pfizer Inc. (NYSE:PFE)’s stock price fell 3.2% during trading on Friday . The company traded as low as $23.20 and last traded at $23.52. 22,906,284 shares were traded during mid-day trading, a decline of 42% from the average session volume of 39,257,020 shares. The stock had previously closed at $24.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup reiterated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. Truist Financial lowered their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Finally, UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Price Performance

The stock has a 50 day simple moving average of $25.87 and a 200-day simple moving average of $26.74. The firm has a market cap of $130.39 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. 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 issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter last year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. Equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, for a total transaction of $499,072.05. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Several large investors have recently made changes to their positions in PFE. United Bank grew its stake in shares of Pfizer by 3.7% in the 3rd quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock worth $1,030,000 after buying an additional 1,277 shares in the last quarter. Janus Henderson Group PLC grew its position in Pfizer by 0.5% in the third quarter. Janus Henderson Group PLC now owns 530,429 shares of the biopharmaceutical company’s stock worth $15,348,000 after acquiring an additional 2,600 shares in the last quarter. Kovitz Investment Group Partners LLC grew its position in Pfizer by 35.4% in the third quarter. Kovitz Investment Group Partners LLC now owns 366,690 shares of the biopharmaceutical company’s stock worth $10,612,000 after acquiring an additional 95,896 shares in the last quarter. Hendershot Investments Inc. raised its position in Pfizer by 12.7% during the third quarter. Hendershot Investments Inc. now owns 24,895 shares of the biopharmaceutical company’s stock valued at $720,000 after purchasing an additional 2,798 shares during the period. Finally, DF Dent & Co. Inc. lifted its stake in shares of Pfizer by 11.9% in the 3rd quarter. DF Dent & Co. Inc. now owns 45,708 shares of the biopharmaceutical company’s stock valued at $1,323,000 after purchasing an additional 4,852 shares during the last quarter. 68.36% of the stock is owned by 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.