Pfizer (NYSE:PFE) Trading Down 0.8% - Here's What Happened

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) traded down 0.8% during trading on Monday . The stock traded as low as $24.61 and last traded at $25.01. 12,092,606 shares were traded during mid-day trading, a decline of 69% from the average session volume of 38,933,814 shares. The stock had previously closed at $25.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PFE shares. Guggenheim reissued a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Bank of America reiterated a "neutral" rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Truist Financial lowered their target price on Pfizer from $36.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. Finally, UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.92.

Pfizer Trading Down 3.2 %

The company's 50 day simple moving average is $26.00 and its two-hundred day simple moving average is $26.84. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $139.09 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 0.64 and a beta of 0.61.

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Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion during the quarter, compared to analysts' expectations of $17.26 billion. During the same quarter last year, the firm earned $0.10 EPS. The business's quarterly revenue was up 24.7% on a year-over-year basis. As a group, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares of the company's stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock worth $13,756,738,000 after purchasing an additional 2,285,276 shares during the last quarter. State Street Corp increased its holdings in Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company's stock worth $8,405,930,000 after buying an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. raised its position in Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after buying an additional 25,315,159 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pfizer by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock valued at $3,190,131,000 after acquiring an additional 2,923,537 shares during the period. Finally, Norges Bank purchased a new stake in shares of Pfizer in the 4th quarter valued at $2,328,986,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Company Profile

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.