Investors Purchase Large Volume of Put Options on Pfizer (PFE)
Shares of Pfizer (NYSE:PFE) were the recipient of unusually large options trading activity on Wednesday. Traders acquired 13,482 put options on the company, Analyst RN reports. This is an increase of approximately 126% compared to the average volume of 5,958 put options.
A number of analysts have recently weighed in on PFE shares. Analysts at Deutsche Bank initiated coverage on shares of Pfizer in a research note on Wednesday. They set a “buy” rating and a $34.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Pfizer in a research note on Friday, August 22nd. They now have a $30.00 price target on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Pfizer from $35.00 to $34.00 in a research note on Thursday, August 14th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $33.54.
Shares of Pfizer (NYSE:PFE) traded up 0.96% on Wednesday, hitting $29.49. 22,576,188 shares of the company’s stock traded hands. Pfizer has a 1-year low of $27.76 and a 1-year high of $32.96. The stock has a 50-day moving average of $29.41 and a 200-day moving average of $30.3. The company has a market cap of $187.0 billion and a price-to-earnings ratio of 18.35.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 29th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.49 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts expect that Pfizer will post $2.25 EPS for the current fiscal year.
Pfizer Inc (NYSE:PFE) is a research-based, global biopharmaceutical company.
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