Pfizer (NYSE:PFE) has been assigned a $36.00 price target by equities researchers at Goldman Sachs Group in a research note issued on Tuesday. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Goldman Sachs Group’s target price would suggest a potential downside of 4.76% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. BMO Capital Markets set a $39.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Tuesday. Berenberg Bank set a $36.00 price target on shares of Pfizer and gave the company a “neutral” rating in a report on Tuesday. Sanford C. Bernstein set a $43.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday. Finally, Bank of America set a $40.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $38.50.
Pfizer (NYSE:PFE) traded down $1.22 during trading hours on Tuesday, reaching $37.80. 45,755,592 shares of the company’s stock traded hands, compared to its average volume of 22,265,641. Pfizer has a one year low of $30.93 and a one year high of $39.43. 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 stock has a market capitalization of $223,590.00, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01.
Pfizer announced that its board has initiated a stock repurchase program on Monday, December 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of the company’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 completion of the transaction, the insider now owns 103,458 shares in the company, valued at approximately $3,827,946. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.07, for a total transaction of $296,560.00. Following the transaction, the executive vice president now owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,450 shares of company stock valued at $1,065,220. Insiders own 0.06% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HL Financial Services LLC raised its holdings in Pfizer by 1.1% in the 2nd quarter. HL Financial Services LLC now owns 3,222,985 shares of the biopharmaceutical company’s stock valued at $108,260,000 after acquiring an additional 35,744 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in Pfizer by 10.8% in the 2nd quarter. Hartford Financial Management Inc. now owns 8,538 shares of the biopharmaceutical company’s stock valued at $286,000 after acquiring an additional 835 shares during the last quarter. Cadence Bank NA raised its holdings in Pfizer by 1.4% in the 2nd quarter. Cadence Bank NA now owns 99,962 shares of the biopharmaceutical company’s stock valued at $3,358,000 after acquiring an additional 1,428 shares during the last quarter. Majedie Asset Management Ltd raised its holdings in Pfizer by 7.9% in the 2nd quarter. Majedie Asset Management Ltd now owns 336,991 shares of the biopharmaceutical company’s stock valued at $11,320,000 after acquiring an additional 24,531 shares during the last quarter. Finally, Stanley Laman Group Ltd. raised its holdings in Pfizer by 373.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 114,284 shares of the biopharmaceutical company’s stock valued at $3,839,000 after acquiring an additional 90,160 shares during the last quarter. Hedge funds and other institutional investors own 69.87% of the company’s stock.
TRADEMARK VIOLATION WARNING: This news story was reported by American Market News and is the sole property of of American Market News. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/30/goldman-sachs-group-analysts-give-pfizer-pfe-a-36-00-price-target.html.
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).
