BMO Capital Markets upgraded shares of Pfizer, Inc. (NYSE:PFE) from a market perform rating to an outperform rating in a report released on Wednesday morning. They currently have $37.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $33.00.
Several other analysts have also recently weighed in on the stock. Jefferies Group LLC reaffirmed a hold rating and issued a $35.00 target price (up previously from $34.00) on shares of Pfizer in a report on Friday, July 14th. Berenberg Bank set a $39.00 target price on shares of Pfizer and gave the company a neutral rating in a report on Tuesday. UBS AG reaffirmed a buy rating and issued a $38.00 target price on shares of Pfizer in a report on Monday. BidaskClub cut shares of Pfizer from a sell rating to a strong sell rating in a report on Thursday, July 13th. Finally, Cowen and Company set a $43.00 target price on shares of Pfizer and gave the company a buy rating in a report on Monday, July 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Pfizer has a consensus rating of Hold and an average price target of $37.88.
Shares of Pfizer (NYSE PFE) traded up 1.55% on Wednesday, hitting $33.43. 27,267,488 shares of the stock were exchanged. Pfizer has a 52-week low of $29.83 and a 52-week high of $35.95. The stock has a market cap of $55.92 billion, a PE ratio of 27.18 and a beta of 1.00. The company’s 50 day moving average is $33.38 and its 200-day moving average is $33.25. Pfizer also was the target of unusually large options trading activity on Monday. Stock investors purchased 13,338 call options on the stock. This is an increase of approximately 113% compared to the typical daily volume of 6,261 call options.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $13.08 billion. Pfizer had a net margin of 15.84% and a return on equity of 24.11%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Analysts predict that Pfizer will post $2.55 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.83%. Pfizer’s dividend payout ratio (DPR) is presently 94.12%.
Several institutional investors have recently made changes to their positions in the company. Continental Advisors LLC raised its position in shares of Pfizer by 2.9% in the fourth quarter. Continental Advisors LLC now owns 228,601 shares of the biopharmaceutical company’s stock worth $7,425,000 after buying an additional 6,500 shares during the period. Guardian Capital Advisors LP raised its position in shares of Pfizer by 9.5% in the fourth quarter. Guardian Capital Advisors LP now owns 136,655 shares of the biopharmaceutical company’s stock worth $4,593,000 after buying an additional 11,886 shares during the period. Zurich Insurance Group Ltd FI raised its position in shares of Pfizer by 8.8% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 919,985 shares of the biopharmaceutical company’s stock worth $29,881,000 after buying an additional 74,582 shares during the period. Davy Asset Management Ltd raised its position in shares of Pfizer by 0.5% in the fourth quarter. Davy Asset Management Ltd now owns 429,635 shares of the biopharmaceutical company’s stock worth $16,017,000 after buying an additional 2,124 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Pfizer by 12.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,031,498 shares of the biopharmaceutical company’s stock worth $33,500,000 after buying an additional 112,465 shares during the period. Institutional investors and hedge funds own 69.95% 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).
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