Pfizer (NYSE:PFE) Trading Down 2.6% – Here’s Why

Pfizer Inc. (NYSE:PFE)’s share price was down 2.6% during trading on Tuesday . The company traded as low as $26.78 and last traded at $27.0950. Approximately 46,067,441 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 45,456,918 shares. The stock had previously closed at $27.83.

Analyst Ratings Changes

PFE has been the topic of several analyst reports. TD Cowen reiterated a “hold” rating on shares of Pfizer in a report on Tuesday, December 30th. Argus upgraded Pfizer from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Monday, March 2nd. Zacks Research upgraded Pfizer from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Daiwa Securities Group downgraded Pfizer from an “outperform” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research report on Thursday, February 12th. Finally, Guggenheim increased their target price on Pfizer from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and a consensus price target of $28.19.

Pfizer Stock Performance

The company has a market cap of $154.07 billion, a P/E ratio of 19.92 and a beta of 0.43. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $27.13 and a two-hundred day moving average price of $25.87.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 3rd. The biopharmaceutical company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.09. The company had revenue of $17.56 billion for the quarter, compared to analyst estimates of $16.93 billion. Pfizer had a return on equity of 20.48% and a net margin of 12.42%.The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. On average, research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pfizer

A number of large investors have recently made changes to their positions in PFE. Fiduciary Alliance LLC lifted its stake in Pfizer by 46.4% during the third quarter. Fiduciary Alliance LLC now owns 145,263 shares of the biopharmaceutical company’s stock worth $3,701,000 after purchasing an additional 46,043 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Pfizer in the 3rd quarter valued at $3,019,000. Vista Investment Partners LLC lifted its stake in shares of Pfizer by 236.1% in the 3rd quarter. Vista Investment Partners LLC now owns 69,613 shares of the biopharmaceutical company’s stock valued at $1,774,000 after acquiring an additional 48,900 shares during the last quarter. Money Concepts Capital Corp lifted its stake in shares of Pfizer by 29.9% in the 3rd quarter. Money Concepts Capital Corp now owns 248,251 shares of the biopharmaceutical company’s stock valued at $6,325,000 after acquiring an additional 57,188 shares during the last quarter. Finally, Kepler Cheuvreux Suisse SA bought a new position in shares of Pfizer in the 3rd quarter valued at $16,613,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Company Profile

Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.