BMO Capital Markets Reaffirms Outperform Rating for Pfizer Inc. (PFE)
Pfizer Inc. (NYSE:PFE)‘s stock had its “outperform” rating reissued by equities researchers at BMO Capital Markets in a report issued on Tuesday. They currently have a $40.00 price target on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 22.36% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on PFE. Argus reissued a “buy” rating and issued a $39.00 price target on shares of Pfizer in a report on Sunday, August 28th. Vetr upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating and set a $37.94 price objective on the stock in a research report on Monday, June 27th. Barclays PLC restated an “equal weight” rating and issued a $34.00 price objective on shares of Pfizer in a research report on Tuesday, August 2nd. Jefferies Group decreased their price objective on shares of Pfizer from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, June 20th. Finally, Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Pfizer has an average rating of “Buy” and an average target price of $38.63.
Shares of Pfizer (NYSE:PFE) traded up 0.58% on Tuesday, hitting $32.69. 14,823,025 shares of the stock were exchanged. Pfizer has a 52-week low of $28.25 and a 52-week high of $37.39. The company has a market cap of $198.29 billion, a price-to-earnings ratio of 28.98 and a beta of 0.86. The company has a 50 day moving average of $33.95 and a 200 day moving average of $34.35.
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Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Pfizer had a net margin of 14.88% and a return on equity of 23.37%. The firm had revenue of $13.10 billion for the quarter, compared to the consensus estimate of $13.01 billion. During the same period in the prior year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts forecast that Pfizer will post $2.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 8th. This represents a $1.20 annualized dividend and a dividend yield of 3.67%. Pfizer’s payout ratio is presently 95.24%.
Several institutional investors have recently modified their holdings of PFE. Emerald Acquisition Ltd. bought a new position in shares of Pfizer during the second quarter valued at $555,074,000. Franklin Resources Inc. increased its stake in Pfizer by 16.7% in the first quarter. Franklin Resources Inc. now owns 62,902,993 shares of the biopharmaceutical company’s stock valued at $1,864,446,000 after buying an additional 9,005,107 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Pfizer during the first quarter valued at approximately $242,144,000. Vanguard Group Inc. increased its stake in Pfizer by 1.6% in the second quarter. Vanguard Group Inc. now owns 383,339,513 shares of the biopharmaceutical company’s stock valued at $13,497,386,000 after buying an additional 6,193,821 shares during the last quarter. Finally, Eaton Vance Management increased its stake in Pfizer by 154.8% in the second quarter. Eaton Vance Management now owns 9,636,949 shares of the biopharmaceutical company’s stock valued at $339,317,000 after buying an additional 5,854,244 shares during the last quarter. Hedge funds and other institutional investors own 69.66% of the company’s stock.
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
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