Pfizer (NYSE:PFE) had its price target boosted by investment analysts at Credit Suisse Group from $37.00 to $39.00 in a research report issued on Wednesday. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 4.36% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. UBS Group set a $40.00 target price on Pfizer and gave the company a “buy” rating in a report on Wednesday, December 6th. BMO Capital Markets restated a “buy” rating and set a $39.00 target price on shares of Pfizer in a report on Friday, November 10th. Vetr upgraded Pfizer from a “hold” rating to a “buy” rating and set a $38.82 target price for the company in a report on Thursday, November 23rd. Morgan Stanley set a $41.00 target price on Pfizer and gave the company a “buy” rating in a report on Friday, January 5th. Finally, Zacks Investment Research upgraded Pfizer from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.00.
Shares of Pfizer (NYSE PFE) traded down $0.43 during trading on Wednesday, hitting $37.37. The stock had a trading volume of 6,568,093 shares, compared to its average volume of 21,340,365. 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 company has a market cap of $225,310.00, a price-to-earnings ratio of 10.61, a PEG ratio of 2.40 and a beta of 1.01. Pfizer has a 12-month low of $30.93 and a 12-month high of $39.43.
Pfizer announced that its board has authorized a stock repurchase program on Monday, December 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other Pfizer news, EVP Rady A. Johnson sold 8,000 shares of the stock in a transaction that occurred on 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 approximately $1,740,918.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexander R. Mackenzie sold 6,750 shares of the stock in a transaction that occurred on 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. Company insiders own 0.06% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PFE. Cullinan Associates Inc. lifted its stake in shares of Pfizer by 7.6% in the 2nd quarter. Cullinan Associates Inc. now owns 310,372 shares of the biopharmaceutical company’s stock valued at $10,425,000 after purchasing an additional 21,930 shares during the period. Trust Co. of Toledo NA OH lifted its stake in shares of Pfizer by 4.2% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 80,832 shares of the biopharmaceutical company’s stock valued at $2,715,000 after purchasing an additional 3,286 shares during the period. Hollencrest Securities LLC lifted its stake in shares of Pfizer by 0.4% in the 2nd quarter. Hollencrest Securities LLC now owns 113,161 shares of the biopharmaceutical company’s stock valued at $3,801,000 after purchasing an additional 437 shares during the period. Nexus Investment Management Inc. lifted its stake in shares of Pfizer by 0.7% in the 2nd quarter. Nexus Investment Management Inc. now owns 649,630 shares of the biopharmaceutical company’s stock valued at $21,821,000 after purchasing an additional 4,800 shares during the period. Finally, Amarillo National Bank lifted its stake in shares of Pfizer by 1.0% in the 2nd quarter. Amarillo National Bank now owns 25,693 shares of the biopharmaceutical company’s stock valued at $863,000 after purchasing an additional 260 shares during the period. Institutional investors own 69.87% of the company’s stock.
About Pfizer
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).
