Pfizer (NYSE:PFE) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They presently have a $46.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $47.00. BMO Capital Markets’ price target would suggest a potential upside of 7.15% from the company’s current price. The analysts noted that the move was a valuation call.
Other analysts have also recently issued reports about the stock. Cantor Fitzgerald set a $45.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research note on Monday, August 27th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday, July 31st. Goldman Sachs Group reiterated a “neutral” rating and issued a $42.00 target price on shares of Pfizer in a research note on Wednesday, August 1st. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Finally, Deutsche Bank set a $45.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. Pfizer presently has an average rating of “Hold” and an average price target of $42.95.
PFE stock traded down $0.74 during trading on Thursday, reaching $42.93. The company had a trading volume of 22,942,855 shares, compared to its average volume of 25,885,410. Pfizer has a twelve month low of $33.20 and a twelve month high of $45.81.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.53 billion. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.67 earnings per share.
In other Pfizer news, insider Laurie J. Olson sold 10,214 shares of Pfizer stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $41.00, for a total transaction of $418,774.00. Following the completion of the sale, the insider now directly owns 72,672 shares in the company, valued at approximately $2,979,552. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Pfizer Inc acquired 55,556 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were acquired at an average price of $18.00 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the insider now owns 21,976,484 shares in the company, valued at approximately $395,576,712. The disclosure for this purchase can be found here. Insiders own 0.06% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ballew Advisors Inc acquired a new position in shares of Pfizer in the 1st quarter valued at $102,000. Fort L.P. acquired a new position in shares of Pfizer in the 2nd quarter valued at $121,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in shares of Pfizer in the 1st quarter valued at $132,000. Braun Bostich & Associates Inc. acquired a new position in shares of Pfizer in the 1st quarter valued at $139,000. Finally, Smart Portfolios LLC lifted its stake in shares of Pfizer by 43.9% in the 2nd quarter. Smart Portfolios LLC now owns 3,935 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 1,200 shares during the period. Hedge funds and other institutional investors own 69.01% of the company’s stock.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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