Pfizer (NYSE:PFE) Hits New 12-Month Low on Analyst Downgrade

Pfizer Inc. (NYSE:PFE) hit a new 52-week low during trading on Tuesday after UBS Group lowered their price target on the stock from $28.00 to $24.00. UBS Group currently has a neutral rating on the stock. Pfizer traded as low as $21.75 and last traded at $22.64, with a volume of 85967894 shares traded. The stock had previously closed at $22.97.

Several other research firms also recently issued reports on PFE. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 price target (down previously from $32.00) on shares of Pfizer in a research note on Tuesday. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Truist Financial reduced their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Citigroup reissued a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. Finally, Bank of America reissued a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.07.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer stock in a transaction that occurred on 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 transaction, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This trade represents 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 the SEC website. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PSI Advisors LLC raised its position in Pfizer by 1.4% in the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock worth $738,000 after acquiring an additional 385 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Pfizer by 1.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company’s stock valued at $1,027,000 after purchasing an additional 391 shares in the last quarter. D Orazio & Associates Inc. boosted its position in Pfizer by 5.5% during the fourth quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company’s stock worth $200,000 after purchasing an additional 391 shares during the period. Lipe & Dalton raised its stake in Pfizer by 17.7% during the 4th quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 400 shares during the last quarter. Finally, Oliver Luxxe Assets LLC increased its holdings in Pfizer by 2.2% in the 4th quarter. Oliver Luxxe Assets LLC now owns 18,811 shares of the biopharmaceutical company’s stock valued at $499,000 after buying an additional 401 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

The company’s 50 day moving average price is $25.42 and its 200 day moving average price is $26.51. 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 company has a market cap of $125.79 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 0.64 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating 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 company had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

About Pfizer

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.