Pfizer (NYSE:PFE) had its price objective increased by research analysts at Leerink Swann from $35.00 to $38.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “market perform” rating on the biopharmaceutical company’s stock. Leerink Swann’s price objective points to a potential upside of 1.69% from the company’s current price.
A number of other analysts have also commented on PFE. Zacks Investment Research raised 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. ValuEngine raised Pfizer from a “hold” rating to a “buy” rating in a report on Friday, October 6th. BMO Capital Markets set a $37.00 target price on Pfizer and gave the stock a “buy” rating in a report on Tuesday, October 10th. Barclays set a $38.00 target price on Pfizer and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, Deutsche Bank set a $38.00 target price on Pfizer and gave the stock a “buy” rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $39.00.
Pfizer (PFE) traded down $0.43 during trading on Wednesday, hitting $37.37. The company’s stock had a trading volume of 6,568,093 shares, compared to its average volume of 21,340,365. The company has a market cap of $225,310.00, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 2.40 and a beta of 1.01. Pfizer has a twelve month low of $30.93 and a twelve month high of $39.43. The company has a current ratio of 1.43, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56.
Pfizer declared that its board has initiated a share buyback program on Monday, December 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction on Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of Pfizer stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the transaction, the executive vice president now owns 46,963 shares in the company, valued at $1,740,918.41. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFE. Janus Henderson Group PLC lifted its position in Pfizer by 243.5% during 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 purchasing an additional 9,339,749 shares in the last quarter. Vanguard Group Inc. lifted its position in Pfizer by 2.3% during 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 purchasing an additional 9,239,499 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Pfizer in the second quarter valued at about $268,389,000. Canada Pension Plan Investment Board lifted 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 in the last quarter. Finally, Stifel Financial Corp lifted 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 in the last quarter. 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).
