BMO Capital Markets Reiterates $39.00 Price Target for Pfizer (PFE)

BMO Capital Markets set a $39.00 price objective on Pfizer (NYSE:PFE) in a report published on Monday, January 8th. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on PFE. Vetr lowered shares of Pfizer from a buy rating to a hold rating and set a $35.71 price objective for the company. in a research note on Wednesday, September 13th. Jefferies Group set a $37.00 price target on shares of Pfizer and gave the company a neutral rating in a research report on Monday, September 18th. Sanford C. Bernstein set a $39.00 price target on shares of Pfizer and gave the company a buy rating in a research report on Tuesday, September 19th. Morgan Stanley upgraded shares of Pfizer from an equal weight rating to an overweight rating and boosted their price target for the company from $35.00 to $39.00 in a research report on Wednesday, September 20th. Finally, Zacks Investment Research raised shares of Pfizer from a hold rating to a buy rating and set a $40.00 price objective for the company in a report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $39.25.

Pfizer (NYSE PFE) opened at $36.61 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. Pfizer has a 1 year low of $31.32 and a 1 year high of $39.43. The company has a market cap of $218,220.00, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 2.15 and a beta of 0.94.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. Pfizer had a net margin of 40.55% and a return on equity of 26.86%. The company had revenue of $13.70 billion during the quarter, compared to analyst estimates of $13.67 billion. During the same quarter last year, the business posted $0.47 EPS. Pfizer’s quarterly revenue was up .6% compared to the same quarter last year. sell-side analysts forecast that Pfizer will post 2.94 earnings per share for the current year.

Pfizer declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.36 annualized dividend and a dividend yield of 3.71%. This is a boost from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s payout ratio is currently 36.36%.

In other Pfizer news, EVP Rady A. Johnson sold 8,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the sale, the executive vice president now owns 46,963 shares in the company, valued at $1,740,918.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 6,750 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the completion of the sale, the insider now owns 103,458 shares in the company, valued at approximately $3,827,946. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Pfizer by 2.3% in the second quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock worth $14,062,088,000 after acquiring an additional 9,239,499 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Pfizer by 4.4% in the third quarter. Ameriprise Financial Inc. now owns 59,844,024 shares of the biopharmaceutical company’s stock worth $2,136,189,000 after purchasing an additional 2,502,659 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Pfizer by 0.9% in the second quarter. Franklin Resources Inc. now owns 46,167,213 shares of the biopharmaceutical company’s stock worth $1,550,754,000 after purchasing an additional 389,629 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Pfizer by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 44,286,544 shares of the biopharmaceutical company’s stock worth $1,487,617,000 after purchasing an additional 2,028,313 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Pfizer by 3.6% in the fourth quarter. Fisher Asset Management LLC now owns 36,372,349 shares of the biopharmaceutical company’s stock worth $1,317,407,000 after purchasing an additional 1,251,550 shares in the last quarter. Hedge funds and other institutional investors own 69.87% of the company’s stock.

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About Pfizer

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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