Pfizer (NYSE:PFE) Trading Down 0.9%

Pfizer Inc. (NYSE:PFE) shares were down 0.9% on Tuesday . The stock traded as low as $28.60 and last traded at $28.69. Approximately 6,716,796 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 37,430,703 shares. The stock had previously closed at $28.94.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PFE shares. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. UBS Group upped their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, September 16th. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Down 0.9 %

The business has a 50-day simple moving average of $29.29 and a two-hundred day simple moving average of $28.30. The stock has a market capitalization of $162.46 billion, a P/E ratio of -478.17, a PEG ratio of 1.27 and a beta of 0.68. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pfizer

A number of institutional investors and hedge funds have recently bought and sold shares of PFE. Olistico Wealth LLC acquired a new position in Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the second quarter valued at $29,000. Quarry LP acquired a new position in shares of Pfizer during the second quarter valued at $31,000. Creekmur Asset Management LLC acquired a new position in shares of Pfizer during the fourth quarter valued at $32,000. Finally, Trivant Custom Portfolio Group LLC lifted its stake in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.