Pfizer (NYSE:PFE) has been given a $41.00 target price by investment analysts at Morgan Stanley in a report released on Friday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target indicates a potential upside of 11.44% from the company’s current price.
PFE has been the topic of several other reports. BMO Capital Markets set a $37.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research report on Tuesday, October 10th. ValuEngine raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Deutsche Bank set a $38.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, Barclays set a $38.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Pfizer has an average rating of “Buy” and an average target price of $38.88.
Shares of Pfizer (NYSE PFE) traded up $0.08 during trading hours on Friday, reaching $36.79. 12,377,999 shares of the company traded hands, compared to its average volume of 14,006,733. Pfizer has a 12-month low of $30.90 and a 12-month high of $37.35. 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 firm has a market cap of $218,760.00, a price-to-earnings ratio of 22.57, a P/E/G ratio of 2.45 and a beta of 1.01.
Pfizer announced that its Board of Directors has authorized a stock buyback plan on Monday, December 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the sale, the insider now owns 103,458 shares of the company’s stock, valued at $3,827,946. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander R. Mackenzie sold 14,700 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $35.30, for a total transaction of $518,910.00. Following the sale, the insider now directly owns 117,432 shares in the company, valued at approximately $4,145,349.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,450 shares of company stock worth $1,065,220. Insiders own 0.06% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Northstar Group Inc. raised its position in Pfizer by 0.4% during the second quarter. Northstar Group Inc. now owns 8,602 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 35 shares during the last quarter. Peregrine Asset Advisers Inc. raised its position in Pfizer by 0.5% during the second quarter. Peregrine Asset Advisers Inc. now owns 7,354 shares of the biopharmaceutical company’s stock worth $247,000 after acquiring an additional 35 shares during the last quarter. Northwest Quadrant Wealth Management LLC raised its position in Pfizer by 0.8% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 6,329 shares of the biopharmaceutical company’s stock worth $211,000 after acquiring an additional 50 shares during the last quarter. River Wealth Advisors LLC raised its position in Pfizer by 0.3% during the second quarter. River Wealth Advisors LLC now owns 15,818 shares of the biopharmaceutical company’s stock worth $531,000 after acquiring an additional 55 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its position in Pfizer by 0.5% during the second quarter. Meridian Wealth Management LLC now owns 11,966 shares of the biopharmaceutical company’s stock worth $402,000 after acquiring an additional 57 shares during the last quarter. 69.75% of the stock is currently owned by hedge funds and other institutional investors.
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).
