Pfizer (NYSE:PFE) Trading Down 3.9% – What’s Next?

Pfizer Inc. (NYSE:PFE) shares dropped 3.9% on Thursday . The stock traded as low as $21.57 and last traded at $21.61. Approximately 16,763,261 shares traded hands during trading, a decline of 58% from the average daily volume of 39,955,145 shares. The stock had previously closed at $22.49.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of recent analyst reports. Citigroup restated a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Truist Financial dropped their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. UBS Group decreased their target price on Pfizer from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.07.

Pfizer Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a market capitalization of $124.14 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. The company’s fifty day moving average is $25.25 and its 200-day moving average is $26.40.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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 for 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 company’s revenue was up 24.7% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. As a group, analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Activity

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the business’s stock in a transaction on 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 directly owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Pfizer during the 4th quarter valued at approximately $2,328,986,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Starboard Value LP bought a new stake in Pfizer in the fourth quarter worth $407,730,000. Raymond James Financial Inc. bought a new stake in Pfizer in the fourth quarter worth $274,694,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock valued at $2,029,604,000 after purchasing an additional 5,350,381 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

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.