Pfizer (NYSE:PFE) has been given a $43.00 price objective by research analysts at Sanford C. Bernstein in a report released on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 13.88% from the company’s previous close.
PFE has been the topic of a number of other research reports. ValuEngine raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. JPMorgan Chase & Co. set a $39.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Jefferies Group set a $39.00 price objective on shares of Pfizer and gave the stock a “neutral” rating in a research report on Thursday, November 16th. Nord/LB restated a “neutral” rating on shares of Pfizer in a report on Tuesday, January 2nd. Finally, Morgan Stanley set a $41.00 target price on shares of Pfizer and gave the stock a “buy” rating in a report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $38.44.
Shares of Pfizer (NYSE PFE) traded down $1.26 during mid-day trading on Tuesday, hitting $37.76. 6,304,744 shares of the stock were exchanged, compared to its average volume of 20,064,436. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. The company has a market capitalization of $224,960.00, a price-to-earnings ratio of 23.15, a PEG ratio of 2.41 and a beta of 1.01. Pfizer has a twelve month low of $30.93 and a twelve month high of $39.43.
Pfizer declared that its board has approved a stock buyback plan on Monday, December 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.00, for a total value of $249,750.00. Following the transaction, the insider now directly owns 103,458 shares in the company, valued at $3,827,946. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 14,700 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total transaction of $518,910.00. Following the completion of the transaction, the insider now owns 117,432 shares in the company, valued at $4,145,349.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,450 shares of company stock worth $1,065,220. Corporate insiders own 0.06% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its position in shares of Pfizer by 243.5% in the second quarter. Janus Henderson Group PLC now owns 13,175,187 shares of the biopharmaceutical company’s stock valued at $442,574,000 after acquiring an additional 9,339,749 shares during the period. Vanguard Group Inc. boosted its position 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 valued at $14,062,088,000 after acquiring an additional 9,239,499 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Pfizer in the second quarter valued at about $268,389,000. Canada Pension Plan Investment Board boosted its position 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 valued at $359,871,000 after acquiring an additional 7,649,416 shares during the period. Finally, Stifel Financial Corp boosted its position 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 valued at $262,515,000 after acquiring an additional 7,226,697 shares during the period. Hedge funds and other institutional investors 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).
