Pfizer (NYSE:PFE) received a $40.00 target price from research analysts at Bank of America in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America’s price objective points to a potential upside of 5.68% from the stock’s previous close.
PFE has been the subject 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 research report on Tuesday, October 10th. ValuEngine raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a research 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 research 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 research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Pfizer presently has a consensus rating of “Hold” and an average target price of $38.53.
Pfizer (PFE) traded down $1.17 during trading hours on Tuesday, hitting $37.85. 19,200,190 shares of the company were exchanged, compared to its average volume of 20,266,574. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.15. The stock has a market cap of $224,960.00, a PE ratio of 23.19, a P/E/G ratio of 2.41 and a beta of 1.01. Pfizer has a 1 year low of $30.93 and a 1 year high of $39.43.
Pfizer announced that its Board of Directors has authorized a share buyback plan on Monday, December 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, insider Alexander R. Mackenzie sold 14,700 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total value of $518,910.00. Following the sale, the insider now directly owns 117,432 shares in the company, valued at approximately $4,145,349.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 6,750 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the completion of the sale, the insider now owns 103,458 shares in the company, valued at $3,827,946. The disclosure for this sale can be found here. Insiders sold a total of 29,450 shares of company stock worth $1,065,220 over the last 90 days. Company insiders own 0.06% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Northstar Group Inc. raised its position in shares of Pfizer by 0.4% in the second quarter. Northstar Group Inc. now owns 8,602 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 35 shares during the last quarter. Peregrine Asset Advisers Inc. raised its position in shares of Pfizer by 0.5% in the second quarter. Peregrine Asset Advisers Inc. now owns 7,354 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 35 shares during the last quarter. Northwest Quadrant Wealth Management LLC raised its position in shares of Pfizer by 0.8% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 6,329 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 50 shares during the last quarter. River Wealth Advisors LLC raised its position in shares of Pfizer by 0.3% in the second quarter. River Wealth Advisors LLC now owns 15,818 shares of the biopharmaceutical company’s stock valued at $531,000 after buying an additional 55 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its position in shares of Pfizer by 0.5% in the second quarter. Meridian Wealth Management LLC now owns 11,966 shares of the biopharmaceutical company’s stock valued at $402,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 69.87% of the company’s stock.
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).
