Short Interest in Pfizer Inc. (NYSE:PFE) Increases By 13.6%


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Pfizer Inc. (NYSE:PFE) was the target of a large growth in short interest in the month of October. As of October 30th, there was short interest totalling 45,930,000 shares, a growth of 13.6% from the October 15th total of 40,440,000 shares. Based on an average daily volume of 26,830,000 shares, the days-to-cover ratio is currently 1.7 days.

NYSE:PFE traded up $0.51 during mid-day trading on Friday, hitting $36.70. The stock had a trading volume of 60,633,847 shares, compared to its average volume of 30,295,137. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. The company has a 50 day simple moving average of $37.02 and a 200-day simple moving average of $36.60. The stock has a market capitalization of $203.99 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 3.10 and a beta of 0.66. Pfizer has a 52 week low of $27.88 and a 52 week high of $41.99.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 27th. The biopharmaceutical company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. The company had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.30 billion. Pfizer had a return on equity of 25.11% and a net margin of 28.80%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, equities research analysts anticipate that Pfizer will post 2.84 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be paid a $0.38 dividend. The ex-dividend date is Thursday, November 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.14%. Pfizer’s payout ratio is 51.53%.

In other news, major shareholder Pfizer Inc acquired 1,200,000 shares of the business’s stock in a transaction on Tuesday, October 27th. The stock was bought at an average price of $10.00 per share, with a total value of $12,000,000.00. Following the completion of the acquisition, the insider now owns 27,349,211 shares of the company’s stock, valued at $273,492,110. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in shares of Pfizer during the 2nd quarter worth about $233,000. Creative Financial Designs Inc. ADV lifted its position in Pfizer by 60.3% in the second quarter. Creative Financial Designs Inc. ADV now owns 2,773 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 1,043 shares during the period. Congress Asset Management Co. MA boosted its stake in Pfizer by 4.4% during the 2nd quarter. Congress Asset Management Co. MA now owns 9,547 shares of the biopharmaceutical company’s stock valued at $312,000 after purchasing an additional 400 shares in the last quarter. Atwater Malick LLC boosted its stake in Pfizer by 3.5% during the 2nd quarter. Atwater Malick LLC now owns 122,150 shares of the biopharmaceutical company’s stock valued at $3,994,000 after purchasing an additional 4,166 shares in the last quarter. Finally, BTR Capital Management Inc. increased its position in shares of Pfizer by 0.7% during the 2nd quarter. BTR Capital Management Inc. now owns 262,155 shares of the biopharmaceutical company’s stock valued at $8,572,000 after purchasing an additional 1,859 shares during the period. 69.08% of the stock is currently owned by institutional investors.

A number of brokerages have commented on PFE. Morgan Stanley lifted their target price on shares of Pfizer from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Tuesday, November 10th. They set a “market perform” rating and a $42.00 price target on the stock. UBS Group increased their price objective on Pfizer from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Zacks Investment Research upgraded shares of Pfizer from a “sell” rating to a “hold” rating and set a $37.00 price target for the company in a research note on Thursday, October 29th. Finally, JPMorgan Chase & Co. set a $36.00 price objective on Pfizer and gave the stock a “neutral” rating in a research report on Monday, November 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $39.80.

About Pfizer

Pfizer Inc develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and pain under the Eliquis, Chantix/Champix, and Premarin family brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Sutent, Xtandi, Xalkori, Inlyta, Braftovi + Mektovi brands; and sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Vfend, and Zithromax brands.

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