Pfizer (NYSE:PFE) Stock Price Down 1.1% – Here’s Why

Pfizer Inc. (NYSE:PFE) shares traded down 1.1% during trading on Tuesday . The stock traded as low as $25.81 and last traded at $25.85. 8,437,133 shares were traded during mid-day trading, a decline of 77% from the average session volume of 36,645,983 shares. The stock had previously closed at $26.14.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Bank of America reissued a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Stock Performance

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 stock has a market cap of $141.64 billion, a P/E ratio of 17.71, a PEG ratio of 0.64 and a beta of 0.61. The stock has a fifty day simple moving average of $26.12 and a 200-day simple moving average of $26.98.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion during the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock bought 19,457 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, for a total transaction 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 represents a 235.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB raised its stake in shares of Pfizer by 36.1% in the 4th quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock valued at $108,002,000 after purchasing an additional 1,080,822 shares during the period. Parsons Capital Management Inc. RI raised its position in Pfizer by 118.7% in the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company’s stock valued at $7,820,000 after buying an additional 159,984 shares during the last quarter. NFJ Investment Group LLC raised its holdings in shares of Pfizer by 12.8% in the third quarter. NFJ Investment Group LLC now owns 384,571 shares of the biopharmaceutical company’s stock valued at $11,129,000 after purchasing an additional 43,719 shares during the last quarter. Copley Financial Group Inc. bought a new stake in shares of Pfizer in the third quarter worth $577,000. Finally, Zacks Investment Management boosted its holdings in Pfizer by 10.9% during the third quarter. Zacks Investment Management now owns 2,389,138 shares of the biopharmaceutical company’s stock worth $69,142,000 after purchasing an additional 235,243 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Company Profile

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.