Pfizer (NYSE:PFE) has been given a $36.00 price objective by analysts at Berenberg Bank in a research note issued on Tuesday. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Berenberg Bank’s price objective suggests a potential downside of 4.66% from the company’s previous close.
A number of other brokerages also recently issued reports on PFE. Nord/LB reaffirmed a “neutral” rating on shares of Pfizer in a report on Wednesday, December 27th. Zacks Investment Research raised Pfizer from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Wednesday, January 24th. Deutsche Bank set a $38.00 price target on Pfizer and gave the company a “buy” rating in a report on Wednesday, October 11th. Goldman Sachs Group set a $36.00 price target on Pfizer and gave the company a “neutral” rating in a report on Wednesday, November 1st. Finally, BMO Capital Markets set a $39.00 price target on Pfizer and gave the company a “buy” rating in a report on Friday, December 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $38.44.
Shares of Pfizer (PFE) traded down $1.26 during trading hours on Tuesday, hitting $37.76. The stock had a trading volume of 6,304,744 shares, compared to its average volume of 20,064,436. The company has a market capitalization of $224,960.00, a P/E ratio of 23.15, a P/E/G ratio of 2.41 and a beta of 1.01. 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.
Pfizer announced that its Board of Directors has approved a share repurchase program on Monday, December 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other Pfizer news, EVP Rady A. Johnson sold 8,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.07, for a total value of $296,560.00. Following the completion of the sale, the executive vice president now owns 46,963 shares in the company, valued at $1,740,918.41. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexander R. Mackenzie sold 6,750 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total value of $249,750.00. Following the completion of the sale, the insider now owns 103,458 shares of the company’s stock, valued at approximately $3,827,946. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,450 shares of company stock valued at $1,065,220. Company insiders own 0.06% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. HL Financial Services LLC grew its position in shares of Pfizer by 1.1% during the second quarter. HL Financial Services LLC now owns 3,222,985 shares of the biopharmaceutical company’s stock worth $108,260,000 after purchasing an additional 35,744 shares in the last quarter. Hartford Financial Management Inc. grew its position in shares of Pfizer by 10.8% during the second quarter. Hartford Financial Management Inc. now owns 8,538 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 835 shares in the last quarter. Cadence Bank NA grew its position in shares of Pfizer by 1.4% during the second quarter. Cadence Bank NA now owns 99,962 shares of the biopharmaceutical company’s stock worth $3,358,000 after purchasing an additional 1,428 shares in the last quarter. Majedie Asset Management Ltd grew its position in shares of Pfizer by 7.9% during the second quarter. Majedie Asset Management Ltd now owns 336,991 shares of the biopharmaceutical company’s stock worth $11,320,000 after purchasing an additional 24,531 shares in the last quarter. Finally, Stanley Laman Group Ltd. grew its position in shares of Pfizer by 373.7% during the second quarter. Stanley Laman Group Ltd. now owns 114,284 shares of the biopharmaceutical company’s stock worth $3,839,000 after purchasing an additional 90,160 shares in 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).
