Pfizer (NYSE:PFE) Trading Down 1.5% - Here's What Happened

Pfizer Inc. (NYSE:PFE - Get Free Report)'s stock price fell 1.5% during mid-day trading on Tuesday . The company traded as low as $22.31 and last traded at $22.28. 21,090,454 shares traded hands during trading, a decline of 47% from the average session volume of 39,584,296 shares. The stock had previously closed at $22.63.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFE. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research report on Tuesday. Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. Citigroup restated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. UBS Group cut their price target on Pfizer from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Truist Financial lowered their target price on shares of Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.07.

Pfizer Stock Up 1.4 %

The company has a market cap of $124.14 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. 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 fifty day moving average of $25.25 and a 200 day moving average of $26.40.

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

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, with a total value of $499,072.05. Following the acquisition, the director now directly owns 27,707 shares of the company's stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Pfizer

A number of hedge funds have recently added to or reduced their stakes in PFE. Norges Bank purchased a new stake in Pfizer during the 4th quarter worth approximately $2,328,986,000. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Starboard Value LP purchased a new position in Pfizer in the 4th quarter valued at $407,730,000. Raymond James Financial Inc. acquired a new stake in Pfizer during the 4th quarter worth $274,694,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after buying an additional 5,350,381 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.