Pfizer (NYSE:PFE) Hits New 52-Week Low on Analyst Downgrade

Posted by Defense World Staff on May 5th, 2023

Pfizer Inc. (NYSE:PFE – Get Rating) reached a new 52-week low on Thursday after Barclays lowered their price target on the stock from $43.00 to $40.00. The stock traded as low as $38.02 and last traded at $38.10, with a volume of 4693094 shares trading hands. The stock had previously closed at $38.45.

Several other research firms have also recently weighed in on PFE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 target price on shares of Pfizer in a research note on Wednesday, February 1st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and set a $51.00 price target for the company in a research note on Tuesday, February 7th. Berenberg Bank set a $40.00 price target on shares of Pfizer in a research note on Tuesday, February 7th. Wells Fargo & Company cut their price target on shares of Pfizer from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, March 17th. Finally, BMO Capital Markets cut their price target on shares of Pfizer from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, February 1st. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.60.

Insider Activity

In other news, major shareholder Pfizer Inc bought 1,811,594 shares of the business’s stock in a transaction dated Friday, March 17th. The stock was bought at an average price of $2.76 per share, for a total transaction of $4,999,999.44. Following the completion of the purchase, the insider now owns 5,952,263 shares of the company’s stock, valued at approximately $16,428,245.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Pfizer

A number of hedge funds and other institutional investors have recently modified their holdings of PFE. Lam Group Inc. acquired a new stake in shares of Pfizer in the fourth quarter valued at approximately $25,000. Worth Asset Management LLC acquired a new stake in shares of Pfizer in the first quarter valued at approximately $29,000. My Personal CFO LLC acquired a new stake in shares of Pfizer in the fourth quarter valued at approximately $32,000. Mendota Financial Group LLC acquired a new stake in shares of Pfizer in the fourth quarter valued at approximately $33,000. Finally, Delos Wealth Advisors LLC increased its holdings in shares of Pfizer by 100.0% in the third quarter. Delos Wealth Advisors LLC now owns 800 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 67.62% of the company’s stock.

Pfizer Stock Down 0.6 %

The business’s fifty day simple moving average is $40.33 and its 200 day simple moving average is $44.99. The company has a current ratio of 1.22, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The stock has a market cap of $215.79 billion, a price-to-earnings ratio of 6.98, a price-to-earnings-growth ratio of 1.29 and a beta of 0.63.

Pfizer (NYSE:PFE – Get Rating) last released its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.23. Pfizer had a net margin of 31.27% and a return on equity of 42.03%. The firm had revenue of $18.28 billion during the quarter, compared to analyst estimates of $16.49 billion. During the same quarter in the previous year, the business earned $1.62 EPS. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. Equities analysts forecast that Pfizer Inc. will post 3.33 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 12th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Thursday, May 11th. Pfizer’s dividend payout ratio is presently 29.93%.

About Pfizer

(Get Rating)

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm works across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.