Pfizer (NYSE:PFE) has been given a $38.00 price objective by equities researchers at Morningstar in a research report issued to clients and investors on Tuesday. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Morningstar’s price target indicates a potential upside of 0.53% from the stock’s previous close.
PFE has been the topic of a number of other research reports. BMO Capital Markets set a $37.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a report on Tuesday, October 10th. ValuEngine raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Deutsche Bank set a $38.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, Barclays set a $38.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $38.50.
Pfizer (PFE) traded down $1.22 during mid-day trading on Tuesday, hitting $37.80. 45,755,592 shares of the company were exchanged, compared to its average volume of 22,265,641. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. Pfizer has a 1-year low of $30.93 and a 1-year high of $39.43. The firm has a market cap of $223,590.00, a PE ratio of 23.19, a PEG ratio of 2.41 and a beta of 1.01.
Pfizer declared that its board has approved a stock buyback plan on Monday, December 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other Pfizer news, EVP Rady A. Johnson sold 8,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.07, for a total transaction of $296,560.00. Following the transaction, the executive vice president now owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander R. Mackenzie sold 14,700 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total transaction of $518,910.00. Following the transaction, the insider now directly owns 117,432 shares in the company, valued at approximately $4,145,349.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,450 shares of company stock worth $1,065,220. 0.06% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of PFE. Janus Henderson Group PLC boosted its position in shares of Pfizer by 243.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,175,187 shares of the biopharmaceutical company’s stock valued at $442,574,000 after purchasing an additional 9,339,749 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Pfizer by 2.3% in the second quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock worth $14,062,088,000 after buying an additional 9,239,499 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Pfizer in the second quarter worth about $268,389,000. Canada Pension Plan Investment Board boosted its holdings in shares of Pfizer by 249.6% in the second quarter. Canada Pension Plan Investment Board now owns 10,713,626 shares of the biopharmaceutical company’s stock worth $359,871,000 after buying an additional 7,649,416 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Pfizer by 5,413.5% in the third quarter. Stifel Financial Corp now owns 7,360,192 shares of the biopharmaceutical company’s stock worth $262,515,000 after buying an additional 7,226,697 shares during the period. Institutional investors own 69.87% of the company’s stock.
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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).
