Pfizer, Inc. (PFE) Downgraded to “Hold” at Zacks Investment Research
Pfizer, Inc. (NYSE:PFE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Pfizer is facing headwinds in the form of genericization of key drugs, lost alliance revenues, pricing pressure and rising competition which is hurting the top-line. Though Pfizer’s growing immuno-oncology portfolio offers strong potential, many of these assets are in early stage of development. Additionally, Pfizer’s shares have underperformed the industry this year so far. Nonetheless, we believe that new products like Ibrance, contribution from acquisitions, cost-cutting efforts and share buybacks should help the company achieve its guidance. Pfizer also boasts a strong pipeline and expects approximately 25 to 30 drug approvals over the next five years, including around 15 products that have blockbuster potential. Bavencio is being considered a key long-term growth driver for Pfizer. The company has a mixed record of earnings surprises in recent quarters. Estimates have remained stable ahead of its Q3 earnings results.”
PFE has been the topic of several other research reports. Sanford C. Bernstein set a $39.00 price objective on Pfizer and gave the stock a “buy” rating in a report on Monday, July 17th. BMO Capital Markets upgraded Pfizer from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $33.00 to $37.00 in a report on Wednesday, August 2nd. UBS AG restated a “buy” rating and set a $38.00 price objective on shares of Pfizer in a report on Monday, July 31st. ValuEngine upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Finally, BidaskClub upgraded Pfizer from a “strong sell” rating to a “sell” rating in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.21.
Pfizer (NYSE PFE) traded up 0.14% during midday trading on Wednesday, reaching $36.45. The company’s stock had a trading volume of 17,233,093 shares. The company has a 50 day moving average price of $35.02 and a 200 day moving average price of $33.73. Pfizer has a 1-year low of $29.83 and a 1-year high of $36.51. The firm has a market cap of $216.78 billion, a price-to-earnings ratio of 26.66 and a beta of 1.00.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $13.08 billion. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. Pfizer’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, equities research analysts expect that Pfizer will post $2.56 EPS for the current year.
In other Pfizer news, insider Laurie J. Olson sold 8,064 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $32.70, for a total value of $263,692.80. Following the transaction, the insider now directly owns 74,506 shares of the company’s stock, valued at $2,436,346.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander R. Mackenzie sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $33.50, for a total value of $502,500.00. Following the completion of the transaction, the insider now directly owns 151,474 shares in the company, valued at $5,074,379. The disclosure for this sale can be found here. Insiders sold 464,521 shares of company stock worth $15,813,961 over the last three months. 0.06% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Northstar Group Inc. increased its position in shares of Pfizer by 0.4% during the second quarter. Northstar Group Inc. now owns 8,602 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 35 shares during the last quarter. Peregrine Asset Advisers Inc. increased its position in shares of Pfizer by 0.5% during the second quarter. Peregrine Asset Advisers Inc. now owns 7,354 shares of the biopharmaceutical company’s stock worth $247,000 after acquiring an additional 35 shares during the last quarter. Northwest Quadrant Wealth Management LLC increased its position in shares of Pfizer by 0.8% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 6,329 shares of the biopharmaceutical company’s stock worth $211,000 after acquiring an additional 50 shares during the last quarter. River Wealth Advisors LLC increased its position in shares of Pfizer by 0.3% during the second quarter. River Wealth Advisors LLC now owns 15,818 shares of the biopharmaceutical company’s stock worth $531,000 after acquiring an additional 55 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its position in shares of Pfizer by 0.5% during the second quarter. Meridian Wealth Management LLC now owns 11,966 shares of the biopharmaceutical company’s stock worth $402,000 after acquiring an additional 57 shares during the last quarter. 68.99% of the stock is currently owned by institutional investors.
Pfizer Company Profile
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).
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