Pfizer (NYSE:PFE) Trading Down 3.2% – Time to Sell?

Pfizer Inc. (NYSE:PFE) shares fell 3.2% during mid-day trading on Friday . The company traded as low as $23.20 and last traded at $23.52. 22,906,284 shares were traded during mid-day trading, a decline of 42% from the average session volume of 39,257,020 shares. The stock had previously closed at $24.29.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Truist Financial dropped their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Citigroup reissued a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Finally, Guggenheim restated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Stock Down 5.4 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock’s 50-day moving average price is $25.93 and its two-hundred day moving average price is $26.81. The stock has a market capitalization of $130.39 billion, a PE ratio of 16.31, a P/E/G ratio of 0.64 and a beta of 0.61.

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

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the purchase, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Several institutional investors have recently made changes to their positions in the business. United Bank boosted its stake in shares of Pfizer by 3.7% during the 3rd quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock worth $1,030,000 after acquiring an additional 1,277 shares during the last quarter. Janus Henderson Group PLC lifted its position in Pfizer by 0.5% during the third quarter. Janus Henderson Group PLC now owns 530,429 shares of the biopharmaceutical company’s stock valued at $15,348,000 after purchasing an additional 2,600 shares in the last quarter. Reynders McVeigh Capital Management LLC grew its holdings in Pfizer by 10.6% during the third quarter. Reynders McVeigh Capital Management LLC now owns 21,946 shares of the biopharmaceutical company’s stock valued at $635,000 after purchasing an additional 2,100 shares during the period. Royal London Asset Management Ltd. increased its position in Pfizer by 2.7% in the third quarter. Royal London Asset Management Ltd. now owns 2,393,288 shares of the biopharmaceutical company’s stock worth $69,262,000 after buying an additional 63,687 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Pfizer by 1,397.9% in the third quarter. Quarry LP now owns 16,462 shares of the biopharmaceutical company’s stock worth $476,000 after buying an additional 15,363 shares during the period. 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.